Radisys Closes $17 Million Senior Notes Financing to Support Software-Systems Business Strategy
RADISYS (RSYS)
Last radisys earnings: 11/8 04:05 pm
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Source: Business Wire
Announces Preliminary Fourth Quarter 2017 Revenue of Approximately $32 Million HILLSBORO, Ore.--(BUSINESS WIRE)-- Radisys Corporation (NASDAQ: RSYS), a global leader of open telecom solutions, today announced the Company closed a $17 million financing with Hale Capital Partners (“HCP”) and also entered into a newly established $20 million asset-backed line of credit agreement with Marquette Business Credit, a subsidiary of UMB Bank. In conjunction with securing the new financing, the Company settled all outstanding balances and terminated its previous line of credit with Silicon Valley Bank. “Securing this additional capital provides us with increased flexibility, enabling us to more meaningfully focus on our Software and Services business,” said Brian Bronson, Radisys President and Chief Executive Officer. “Importantly, execution on our re-focused business strategy will position Radisys to deliv
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