AMOT - Allied Motion Technologies expands revolving credit facility to $280M

• Allied Motion Technologies ( NASDAQ: AMOT ) said Monday it amended its credit agreement to increase the size of its existing revolving credit facility to $280M from $225M.
• The amendment includes a higher maximum leverage ratio of 4x through Q3 2023, after which it will go down to 3.5x.
• AMOT currently elected an allowed acquisition leverage increase providing for a 0.5x step up to the leverage ratio to 4.5x.
• This allowed increase expires at 2022-end.
• The amendment applies adj. term SOFR as the reference interest rate.
• The credit facility matures on Feb. 1, 2025.

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