Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF), a global leader in the Intelligent Transportation System (ITS) industry, has secured a $60 million senior secured credit facility with U.S. Private Credit Investments (PCI), a division of BTG Pactual Global Alternatives. Roth Canada served as co-lead debt advisor on the transaction. The financing consists of a $30 million initial term loan facility, a $25 million delayed draw term loan facility, and a $5 million revolving credit facility. Proceeds will be used to repay obligations under Quarterhill's existing credit agreement, redeem its convertible debentures, pay transaction fees and expenses, and provide working capital. Additionally, Quarterhill established a $100 million uncommitted accordion, subject to PCI agreement and customary conditions, to support inorganic growth initiatives.
This new credit facility provides Quarterhill with enhanced financial flexibility and liquidity, allowing the company to streamline its capital structure by retiring existing debt and convertible debentures. The $100 million accordion positions Quarterhill to pursue strategic acquisitions in the rapidly evolving ITS market, where demand for smart infrastructure solutions is growing. Quarterhill's platforms process billions of transactions annually, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic. Leveraging artificial intelligence and machine learning, Quarterhill's technologies deliver automation and predictive insights to help agencies manage transportation networks more efficiently.
For investors, this financing reduces near-term refinancing risk and supports Quarterhill's ability to invest in innovation and expand its market presence. The ITS industry is benefiting from increased government spending on transportation infrastructure and a global push for safer, more sustainable mobility. Quarterhill's solutions address these needs by reducing congestion, improving roadway safety, and creating more sustainable travel. The company's partnership with PCI, a division of BTG Pactual Global Alternatives, underscores confidence in Quarterhill's business model and growth prospects.
Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit https://www.quarterhill.com/. The full press release can be viewed at https://ibn.fm/GSsqN. This news was disseminated by InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. InvestorWire provides editorial syndication to 5,000+ outlets, press release enhancement, and social media distribution to maximize reach for its clients. For full terms of use and disclaimers, see https://www.InvestorWire.com/Disclaimer.
