DAKT - Daktronics extends near-term credit facility maturity

• Daktronics ( NASDAQ: DAKT ) amends its credit agreement with its current lender, U. S. Bank National Association, to extend the maturity of $10M of its $45M credit facility to May 1, 2023.
• The remaining $35M of the credit facility matures on April 29, 2025.
• “This maturity extension is the first step in a concerted effort on the part of the management team, overseen by the Committee. We are now shifting our focus to reviewing opportunities for additional longer-term liquidity to generate profitable growth. Together with our financial and legal advisors, our efforts include reviewing several financing proposals the Company has already received, as well as engaging with other potential financing sources.” Howard I. Atkins, Chair of Board of Directors.

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