AUSTIN, Texas, April 19, 2017 (GLOBE NEWSWIRE) -- Xplore Technologies (Nasdaq:XPLR), the provider of rugged tablet PCs, today announced that it has entered into a new $15 million three-year secured line of credit with Bank of America. The company will also move its commercial banking relationships to Bank of America.
“After a thorough review and careful selection process, we are pleased to enter into this new facility with Bank of America,” said Tom Wilkinson, Chief Financial Officer of Xplore Technologies. “This new line of credit and banking relationship not only strengthens our balance sheet resources, but also expands our international and multi-currency banking capabilities in support of Xplore’s global rugged tablet business.”
The new line of credit is currently undrawn. The facility includes features which assess certain inventory holdings as well as accounts receivable, providing greater flexibility. The facility replaces Xplore’s existing $15 million lending facility, also undrawn at present, provided by Square 1 Bank.
About Xplore Technologies
Xplore is The Rugged Tablet Authority™, exclusively manufacturing powerful, long-lasting, and customer-defined rugged tablet PCs since 1996. Today, Xplore offers the broadest portfolio of genuinely rugged tablets, as well as the most complete lineup of rugged tablet accessories. Its mobility solutions are purpose-built for the energy, utilities, telecommunications, military and defense, manufacturing, distribution, public safety, healthcare, government, and field service sectors. The company’s award-winning military-grade computers are also among the most powerful and longest lasting in their class, built to withstand nearly any hazardous condition or environmental extreme for years without fail. Visit www.xploretech.com for more information on how Xplore and its global channel partners engineer complete mobility solutions to meet specialized workflow demands. Follow us on Twitter, Facebook, LinkedIn, and YouTube.