CalAmp Files Bankruptcy, Restructuring Finances



As CalAmp undergoes financial restructuring, its business operations in the U.S. and abroad will continue as usual.


CalAmp revealed its entry into a Restructuring Support Agreement with its primary secured lender, Lynrock Lake Master Fund LP.

The latter will emerge as the principal equity owner of CalAmp, transitioning the company to private ownership. 

CalAmp, established in 1981, is a cloud-based telematics technology. The company allows fleets to monitor their operations via asset tracking, maintenance scheduling, performance dashboards, and vehicle alerts, as reported by Gartner in 2023. The telematics service is used by over 14,000 commercial and government organizations with over 10 million active edge devices and 275+ issued or pending patents.

CalAmp has plans to convert approximately $229 million worth of Convertible Senior Secured Notes, currently held by Lynrock, into equity stakes within the newly reorganized company. 

To finalize its privatization strategy, CalAmp has willingly started the process per Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

“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 our customers’ needs,” Chris Adams, CalAmp president and CEO, said. 

As CalAmp undergoes financial restructuring, its business operations in the U.S. and abroad will continue as usual.



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