BuybackJul 30, 2026, 06:08 AM
Galaxy Gaming Amends Credit Agreement to Allow $4M Stock Buyback
AI Summary
Galaxy Gaming, Inc. entered into a First Amendment to its Credit Agreement with BMO Bank N.A., allowing the company to repurchase up to $4 million of its capital stock, equity interests, or warrants. The buyback is contingent on several conditions, including that the sole source of funds must be the $5.23 million termination fee received from Evolution Malta Holding Limited, and the company must maintain at least $5 million in unencumbered liquid assets post-repurchase. The amendment also adjusted the Fixed Charge Coverage Ratio and financial reporting requirements.
Key Highlights
- Credit Agreement with BMO Bank N.A. amended on July 24, 2026.
- Permits Galaxy Gaming to repurchase up to $4 million of its capital stock, equity interests, or warrants.
- Sole source of funds for the buyback is the $5,234,678 termination fee from Evolution Malta Holding Limited.
- Requires minimum unencumbered liquid assets of $5 million after the buyback.
- Buyback must be completed prior to January 6, 2028.
- Company must be in compliance with all financial covenants.
- Fixed Charge Coverage Ratio and financial reporting requirements were also amended.
Price Impact
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