This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dialogic Eliminates Debt-Related Covenants Through 2013

Dialogic Inc. (Nasdaq:DLGC), the Network Fuel™ company, today announced that it has entered into amendments to its credit agreements with both Tennenbaum Capital Partners, LLC (“TCP”) and Wells Fargo Foothill Canada ULC (“WFFC”). As part of the amendments TCP and WFFC have agreed to eliminate all financial covenants under the credit agreements through 2013. Dialogic has also secured an additional $4.5 million in debt financing from TCP. The proceeds of the financing will be used to fund initiatives that will save an estimated $12-$14 million of operating expense in 2013 as well as to accelerate investment in sales and marketing activities.

“We are pleased to have completed this deal for growth capital with TCP,” said Kevin Cook, President and CEO of Dialogic. “This financing is another step forward for the company as we position Dialogic to better serve its Service Provider and Application Development partners while building long-term value for our shareholders. Separately, by eliminating the financial covenants though 2013, the company has the financial flexibility to enable our key strategic initiatives to build momentum in the marketplace.“

About Dialogic

Dialogic (Nasdaq:DLGC), the Network Fuel™ company, inspires the world’s leading service providers and application developers to elevate the performance of media-rich communications across the most advanced networks. We boost the reliability of any-to-any network connections, supercharge the impact of applications and amplify the capacity of congested networks. Forty-eight of the world’s top 50 mobile operators and nearly 3,000 application developers rely on Dialogic to redefine the possible and exceed user expectations. For more information on Dialogic and the communications solutions we energize, visit www.dialogic.com and www.dialogic.com/showcase.

This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of these securities.

The foregoing summarizes certain terms of various agreements entered into by Dialogic, does not purport to be complete and is qualified in its entirety by reference to Exhibits 4.1, 10.1, 10.2 and 10.3 attached to the Form 8-K filed yesterday by Dialogic with respect to the transaction referenced above. For more information please refer to the 8K document itself.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs