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Intest Expands Funding For Greater Financial Flexibility

Intest Expands Funding For Greater Financial Flexibility

09/26/22, 8:16 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgnew jersey
Industry
manufacturing
inTEST Corporation (NYSE American: INTT), a global supplier of innovative test and process solutions for use in manufacturing and testing in key target markets which include automotive, defense/aerospace, industrial, life sciences, security, and semiconductor, announced today that it has executed an amendment to its loan agreement with M&T Bank to expand the existing non-revolving delayed draw term loan facility by $25.5 million to $50.5 million. After borrowings of $20.5 million in the fourth quarter of 2021, this amendment raises the remaining available funding under the term loan facility to $30 million. The maturity date for draws under the expanded term loan facility has been extended to September 2027. This extension also applies to the existing $10 million line of credit, which has no borrowings.

Company Info

Company
inTEST Corporation
Location
east gate drive
new jersey, new jersey, united states
Additional Info
inTEST Corporation is a global supplier of innovative test and process solutions for use in manufacturing and testing in key target markets which include automotive, defense/aerospace, industrial, life sciences, and security, as well as both the front-end and back-end of the semiconductor manufacturing industry. Backed by decades of engineering expertise and a culture of operational excellence, inTEST solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. inTEST’s strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, and market expansion. For more information, visit www.intest.com.

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