Allegro MicroSystems (ALGM) Launches Incremental Term Loan

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Go back to Allegro MicroSystems (ALGM) Launches Incremental Term Loan

Allegro MicroSystems Launches Incremental Term Loan

July 23, 2024 4:06 PM EDT

MANCHESTER, N.H., July 23, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (Allegro) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurchase shares from Allegros majority shareholder, Sanken Electric Co., Ltd. (Sanken). The foregoing transactions are subject to market... More