Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
Qantas to Sell Jetstar Japan Stake as It Refocuses on Core Australian Operations 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
Hyundai Motor Lets Russia Plant Buyback Option Expire Amid Ongoing Ukraine War 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Nvidia’s $100 Billion OpenAI Investment Faces Internal Doubts, Report Says 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
NEWARK, N.Y., May 31, 2017 -- Ultralife Corporation (NASDAQ:ULBI) has closed on a three-year $30 million senior secured revolving credit facility with a $20 million accordion feature with KeyBank National Association (“KeyBank”). This facility replaces the Company’s $20 million asset-based revolving credit facility that had expired on May 24, 2017.
Borrowings under the facility will bear interest based on LIBOR plus 185 basis points and may vary depending on the Company meeting certain financial criteria.
“Upgrading to a cash-flow based credit facility of greater size enhances our preparedness to seize new growth opportunities organically and through acquisitions, and invest strategic cap-ex to increase our competitive advantage. With greater financial flexibility, we are better positioned to accelerate the operating leverage benefits of our now validated business model,” said Michael D. Popielec, Ultralife’s President and Chief Executive Officer. “The new facility demonstrates our success in significantly improving our liquidity through profitable growth and effective working capital management. Indicative of our strengthened financial position, as of the end of our first quarter and for the trailing twelve-month period, we reported EPS of $0.32 and an EBITDA margin of 10.2%, along with $13.7 million of cash and no debt. KeyBank is the ideal partner for us and we look forward to forging a strong relationship with them.”
About Ultralife Corporation
Ultralife Corporation serves its markets with products and services ranging from power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe.
Headquartered in Newark, New York, the Company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorporation.com.
Company Contact: Ultralife Corporation Philip A. Fain (315) 210-6110 [email protected] Investor Relations Contact: LHA Jody Burfening (212) 838-3777 [email protected]
