Digi International enters into amended and updated credit agreement

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HOPKINS, Minnesota – (COMMERCIAL THREAD) – Digi International Inc. (NASDAQ: DGII), a leading global provider of business-critical Internet of Things (“IoT”) connectivity products, services and solutions for businesses, today announced that it has entered into an agreement amended and reformulated with BMO Harris Bank NA as administrative agent and guarantee agent.

The new facility provides Digi with a senior secured credit facility consisting of a $ 200 million senior secured revolving credit facility with an option to increase the size of the facility by an additional $ 75 million. It replaces the existing credit facility which included a $ 48 million A term loan balance and a $ 100 million senior secured revolving loan.

“We are delighted with the increased flexibility offered by our banking group and with this new credit agreement, ”said Jamie Loch, Senior Vice President, Chief Financial Officer and Treasurer. “By converting our A term debt into a revolver, we gain flexibility. And expanding our borrowing capacity can help Digi accelerate our growth plans, both organically and inorganically. ”

Subject to the terms of the facility, Digi may use borrowings for working capital, capital expenditures, restricted payments, acquisitions and other general business purposes.

Parties to the agreement include BMO Capital Markets Corp, as lead arranger and sole bookrunner, Silicon Valley Bank, as lead arranger and syndication agent, and US Bank and Citizens Bank as lenders.

The price and interest of the amended and updated credit agreement is in accordance with the previous credit agreement. The terms of the amended and updated credit agreement can be found in a current report on Form 8-K filed with the SEC, as well as in the investor section of our website www.digi.com.

About Digi International

Digi International (NASDAQ: DGII) is a leading global provider of IoT connectivity products, services and solutions. We help our customers create next generation connected products and deploy and manage critical communication infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, we’ve helped our customers connect over 100 million things and grow. For more information, visit the Digi website at www.digi.com or call 877-912-3444 (US) or 952-912-3444 (International).

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