Quarterhill Inc. (TSX: QTRH) (OTCQX: QTRHF), a global leader in the Intelligent Transportation System (ITS) industry, announced today that it has secured a $60 million senior secured credit facility with U.S. Private Credit Investments (PCI), a division of BTG Pactual Global Alternatives. Roth Canada served as co-lead debt advisor on the transaction. The financing package consists of a $30 million initial term loan facility, a $25 million delayed draw term loan facility, and a $5 million revolving credit facility. Proceeds from the new facility will be used to repay obligations under Quarterhill's existing credit agreement, redeem its convertible debentures, pay transaction fees and expenses, and provide working capital.
In addition to the $60 million facility, Quarterhill has established a $100 million uncommitted accordion, subject to PCI agreement and customary conditions, to support inorganic growth initiatives. This accordion feature provides the company with significant financial flexibility to pursue strategic acquisitions and investments in the rapidly evolving transportation technology sector.
Quarterhill's platforms process billions of transactions annually, perform compliance and safety inspections on millions of commercial vehicles, and enable transportation agencies worldwide to optimize thousands of lanes of traffic. Leveraging advanced artificial intelligence and machine learning technologies, the company's solutions deliver automation and predictive insight to help agencies manage transportation networks more efficiently. By working closely with governments, communities, and industry leaders, Quarterhill is building today's connected roadways while shaping the next generation of intelligent, resilient mobility.
The new credit facility comes at a time when governments and municipalities are increasingly investing in smart infrastructure to reduce congestion, improve roadway safety, and create more sustainable travel. Quarterhill's ability to secure this financing underscores confidence in its business model and growth prospects. The company's shares trade on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit https://www.quarterhill.com/.
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For investors, the new credit facility reduces Quarterhill's cost of capital and extends its debt maturity profile, providing a more stable financial foundation. The $100 million accordion signals the company's intent to actively pursue growth opportunities, which could lead to expanded market share and increased shareholder value. In the broader ITS industry, Quarterhill's strengthened balance sheet may enable it to accelerate innovation and compete more effectively in the global smart transportation market. As transportation agencies worldwide seek to modernize infrastructure, Quarterhill's AI-driven solutions are well-positioned to meet growing demand. The company's ability to secure favorable financing terms reflects lender confidence in its strategic direction and the long-term potential of the ITS sector. This development is important for readers because it highlights the ongoing digital transformation of transportation infrastructure and the investment opportunities it presents.
