Rand Worldwide Announces Successful Completion of Debt Refinancing and Declares Special Dividend
06/11/2021 - 01:00 PM
Today, Rand Worldwide Inc. (OTCBB: RWWI), the nationwide technology experts for design, engineering, simulation and facilities management, announced that it has entered into an amended and restated credit agreement with its bank consisting of two credit facilities which replace the Company’s previous credit agreements. The first facility is a five-year $10 million line of credit, secured by all assets of the Company with borrowing levels subject to borrowing base limits with interest set at the one-month LIBOR rate plus a margin of 1.50% . The second facility is a five-year, $38 million term note loan with scheduled monthly principal payments of $633,333.33 over its five-year term, and interest paid monthly based on one-month LIBOR rate plus a margin of 1.50% . In connection with this financing transaction, the Company’s Board of Directors authorized a special dividend of $1.00 per share of the Company’s common stock to be paid on June 28, 2021 to the Company’s shareholders of record as of June 21, 2021.
About Rand Worldwide
Rand Worldwide is one of the world’s leading professional services and technology companies for the engineering community, targeting organizations in the building, infrastructure, and manufacturing industries. The company advances the way organizations design, develop, and manage building, infrastructure, and manufacturing projects. Fortune 500 and Engineering News Record's Top 100 companies work with Rand Worldwide to gain a competitive advantage through technology consulting, implementation, training, and support services. One of the world’s largest integrators of Autodesk software, the company also provides facilities management software from ARCHIBUS, Ansys simulation services and software via the Rand SIM team, CAD and PLM courseware through their ASCENT division and provides training and consulting solutions on Dassault Systèmes and PTC products. For more information, visit rand.com .
Any and all trademarks making reference to or related to Rand Worldwide are registered and/or owned by Rand Worldwide, Inc., and/or its subsidiaries, affiliates, and/or other legal holders. All other company, product names, logos, and brands are property of their respective owners.
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About RWWI
rand worldwide, inc. (otcbb: rwwi) is one of the world’s leading providers of technology solutions and professional services to the engineering community, targeting organizations in the building, infrastructure and manufacturing industries. imaginit technologies: is the largest u.s.-based autodesk (nasdaq: adsk) solutions provider offering solutions for the manufacturing, building and infrastructure industries. imaginit is also the largest north american autodesk authorized training center (atc) partner. rand 3d: rand 3d focuses on offering professional, high-quality training solutions for dassault systèmes and ptc software users. as well, we are a recognized dassault systèmes solutions partner, providing software solutions for catia, delmia, enovia, 3dvia and plm express. ascent- center for technical knowledge: is the leading developer and publisher of professional training and knowledge products for engineering software applications. ascent’s products are used to train thousands of p