CalAmp develops business software designed to track vehicles and improve company logistics. (CalAmp via YouTube)
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CalAmp Corp., which develops business software designed to track vehicles and improve company logistics, has filed bankruptcy to complete a lender-backed plan to cut debt.
Publicly traded CalAmp filed Chapter 11 on June 3 in Delaware to execute a restructuring deal where certain owners of its secured notes will swap out debt for 100% of the equity in the reorganized business. Other CalAmp creditors would be fully repaid in cash, the company said in court papers.
CalAmp estimated its assets are worth about $281.2 million and that its liabilities are worth about …
Read the full article at: https://www.ttnews.com/articles/calamp-files-bankruptcy