Xplore Amends Credit Facility With Far West Capital
Xplore Technologies Corp., a manufacturer of rugged tablet PCs, announced that it has amended its accounts receivable purchase agreement with DSCH Capital Partners, (d/b/a Far West Capital), to increase the maximum amount of accounts receivable that Far West could purchase under the facility from $4.75 million to $8.5 million.
“Securing this increase in our working capital credit facility with our valued-added partner Far West was important and will provide our business necessary flexibility,” stated Michael J. Rapisand, Xplore’s CFO. “We negotiated this additional availability in anticipation of an increase in sales of our iX104C5 rugged tablet PC. The revenue growth is based upon initial beta testing of the new product with our existing customers and purchase orders that we have received to date, including the $14 million of purchase orders from a major utility we have previously announced.”
“We’ve had a beneficial relationship with Xplore for over two years,” stated Cole Harmonson, Far West CEO. “We are exciting about the growth of their business and are very pleased to support them.”
Far West Capital is a privately funded specialty finance company headquartered in Austin, TX.