Loan & DebtOct 29, 2026, 05:11 PM
Data I/O Corp Secures $7.5M Revolving Loan Facility
AI Summary
Data I/O Corporation, along with its newly acquired subsidiaries V-Tek, Inc. and A&J Programming, Inc., has entered into a Loan and Security Agreement with Western Alliance Bank. The agreement provides a revolving loan facility of up to $7.5 million, which can be used for working capital and general business requirements. The loan is secured by the borrowers' assets and requires certain financial covenants, including maintaining a minimum cash balance and a specific fixed charge coverage ratio. The facility matures on October 26, 2028.
Key Highlights
- Data I/O Corp, V-Tek, and A&J Programming entered into a $7.5 million revolving loan facility with Western Alliance Bank.
- The loan facility is secured by accounts, inventory, equipment, and intellectual property.
- Advances bear interest at 1.00% above the Prime Rate, with a minimum of 5.75%.
- The loan facility has a maturity date of October 26, 2028.
- Borrowers must maintain at least $3.0 million in unrestricted cash with Western Alliance.
- A fixed charge coverage ratio of at least 1.25 to 1.00 is required.
Price Impact
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