Lynrock to become the principal equity owner and take CalAmp private Continues to operate business as usual throughout this process Enhanced liquidity to invest in innovation to support customers' evolving needs IRVINE, Calif., June 03, 2024 (GLOBE NEWSWIRE) --  CalAmp (NASDAQ:CAMP), a connected intelligence company helping people and organizations improve operational performance with a data-driven solutions ecosystem, today announced that it has entered into a Restructuring Support Agreement ("RSA") with its principal secured lender, Lynrock Lake Master Fund LP ("Lynrock"), who will become the principal equity owner of CalAmp and take the Company private. In a strategic move that strengthens its financial position, CalAmp intends to exchange the approximately $229 million of Convertible Senior Secured Notes held by Lynrock into equity interests in the reorganized company. During the financial restructuring, CalAmp's U.S. and international operations will continue without disruption, and partners will be paid in the ordinary course of business. To most efficiently complete the go-private transaction, CalAmp has voluntarily initiated proceedings under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. CalAmp enters this process with the strong support of Lynrock who has conveyed confidence in the Company's long-term strategy and future growth prospects. Importantly, the RSA provides a roadmap for the Company to quickly navigate through this process following court approval of its prepackaged restructuring plan. "The savings from eliminating the interest on the debt and the overhead of being a public company will allow us to invest more significantly in the numerous opportunities we see to support ...