Powerwave Technologies, $50M Credit Agreement (PWAV, EXC)

** Powerwave Technologies Inc. (Nasdaq:PWAV) reported that it has entered into a new $50 million senior secured credit agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group.

Online PR News – 12-September-2012 – Las Vegas, NV – PWAV, Powerwave Technologies Inc.

PWAV reported that it has entered into a new $50 million senior secured credit agreement with P-Wave Holdings, LLC, an affiliate of The Gores Group. Under the credit agreement, the lenders advanced $35 million to PWAV, less fees and expenses, and agreed to loan an additional $15 million to PWAV upon request from PWAV subject to the fulfillment of certain conditions. The new credit agreement also includes an accordion feature that allows PWAV to request up to an additional $100 million in term loans from the lenders, which they may advance in their discretion. Proceeds from advances under the new credit agreement will be used to finance working capital and for general corporate purposes. PWAV is a global supplier of end-to-end wireless solutions for wireless communications networks. More about PWAV at www.powerwave.com

EXC, Exelon Corporation

EXC was downgraded from Neutral to Sell by Brokerage Firm UBS EXC, a utility services holding company, engages in the energy generation and distribution business in the United States. More about EXC at www.exeloncorp.com

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