Orion Lighting Secures New, Expanded $20.15 Million Revolving Credit Facility with Western Alliance Bank


Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of enterprise-grade LED lighting and energy project solutions, announced today that it has secured a new two-year, $20.15 million secured revolving Credit Facility with Western Alliance Bank, a wholly owned subsidiary of Western Alliance Bancorporation (NYSE: WAL). The facility replaces the Company’s $15.0 million secured revolving Credit and Security Agreement with Wells Fargo Bank.

Borrowings under the Credit Facility are initially limited to $20.15 million, subject to a borrowing base requirement based on eligible receivables and inventory. The Credit Agreement also includes a $2.0 million sublimit for the issuance of letters of credit. More details regarding the Credit Facility are available in the Company’s Form 8-K filed today.

Bill Hull, Orion’s CFO, commented, “Our new Credit Agreement provides Orion with increased financing capacity and liquidity to fund Orion’s operations and to support our growth goal. Importantly, the new facility provides Orion with approximately $2.4 million in additional current borrowing availability compared to our prior agreement, which will help support our near-term growth objectives. We are pleased to partner with Western Alliance Bank as they have demonstrated a strong commitment to supporting the needs of companies our size.”

www.orionlighting.com



November 7, 2018


Topic Area: Press Release


Recent Posts

The Disconnect Between EVS and Clinical Teams

A recent study shows that EVS feels disconnected from the clinical community, leading to negative experiences. 


Nemours Children's Hospital Opens Institute for Maternal Fetal Health in Delaware

The Institute for Maternal Fetal Health represents a comprehensive approach to supporting expectant patients who receive a complex diagnosis during pregnancy.


Memorial Jerome Medical Center Officially Opens

The new Jerome Medical Center features a state-of-the-art facility, home to many high demand services for area residents.


Biofilm Disruption: Core Strategy for Environmental Hygiene

Integrating mechanical disruption and preventive cleaning into standard practices can reduce dry-surface biofilms.


CHRISTUS Health Opens New Multi-Specialty Clinic in Mount Pleasant

The clinic is designed with patient comfort and convenience in mind.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.