RF Monolithics Announces Renewal and Extension of Credit Facilities with ViewPoint Bank
03 Janeiro 2012 - 11:00AM
Business Wire
RF Monolithics, Inc. (NASDAQ: RFMI) (“RFM” or the
“Company”) today announced that it has renewed and extended the
existing $5,000,000 senior secured credit facility and $740,000
real estate mortgage with ViewPoint Bank (“ViewPoint”), which is a
wholly owned subsidiary of ViewPoint Financial Group (NASDAQ:
VPFG).
The renewed and extended $5 million senior secured credit
facility is a revolving line of credit secured by accounts
receivable and finished goods inventory. The facility’s maturity
was extended from November 30, 2012 to November 30, 2013, and its
interest rate floor was reduced from 7.0% to 5.25%. The real estate
mortgage was extended from 2014 to 2021 and now has a fixed rate of
5.5% for the next five years, well below the floor previously in
effect of 6.5%. Details of the renewals and extensions will be
provided in our Form 10-Q for the first fiscal quarter of 2012.
“We are very pleased with the credit facility renewals and
extensions with ViewPoint Bank,” stated Buddy Barnes, Chief
Financial Officer of RFM. “These renewed and extended credit
facilities will allow RFM to continue operating with sufficient
liquidity and availability while we focus on growing revenue in our
target markets. We have worked well with ViewPoint since early 2009
and these renewals and extensions further enhance our
relationship.”
About RFM
RF Monolithics, Inc., headquartered in Dallas, Texas, is a
provider of solutions-driven, technology-enabled wireless
connectivity for a broad range of wireless applications—from
individual standard and custom components to modules for
comprehensive industrial wireless sensor networks and
machine-to-machine (M2M) technology. For more information on RF
Monolithics, Inc., please visit the Company’s website at
http://www.RFM.com.
Forward-Looking Statements
This news release contains forward-looking statements, made
pursuant to the Safe Harbor Provision of the Private Securities
Litigation Reform Act of 1995, that involve risks and
uncertainties. Statements of the plans, objectives, expectations
and intentions of RFM and/or its wholly-owned subsidiaries
(collectively, the “Company” or “we”) involve risks and
uncertainties. Statements containing terms such as “believe,”
“expect,” “plan,” “anticipate,” “may” or similar terms are
considered to contain uncertainty and are forward-looking
statements. Such statements are based on information available to
management as of the time of such statements and relate to, among
other things, expectations of the business environment in which we
operate, projections of future performance, perceived opportunities
in the market and statements regarding our mission and vision, and
future financial and operating results. Such statements are not
guarantees of future performance and involve certain risks,
uncertainties and assumptions, including risks related to economic
conditions as related to our customer base, collection of
receivables from customers who may be affected by economic
conditions, the highly competitive market in which we operate,
rapid changes in technologies that may displace products sold by
us, declining prices of products, our reliance on distributors,
delays in product development efforts, uncertainty in customer
acceptance of our products, changes in our level of sales or
profitability, manufacturing and sourcing risks, availability of
materials, cost of components for our products, product defects and
returns, as well as the other risks detailed from time to time in
our SEC reports, including the report on Form 10-K for the year
ended August 31, 2011. We do not assume any obligation to update
any information contained in this release.
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