MaxLinear entered into a credit agreement with JPMorgan Chase Bank as administrative agent and collateral agent.

The credit agreement provides for a secured term B loan facility in an aggregate principal amount of $425 million. The initial term loan was fully drawn at the lending date and the proceeds of the initial term loan were used to finance a merger and pay fees and expenses incurred in connection therewith.

The credit agreement permits MaxLinear to request incremental loans in an aggregate principal amount not to exceed the sum of $160 million, plus an unlimited amount that is subject to pro forma compliance with certain secured leverage ratio and total leverage ratio tests.

The loans bear interest at a rate equal to either a base rate equal to the highest of the federal funds rate, plus 0.50%, the prime rate then in effect and an adjusted LIBOR rate determined on the basis of a one-month interest period, plus 1.0% or an adjusted LIBOR rate, subject to a floor of 0.75%, in each case, plus an applicable margin of 2.50% in the case of LIBOR rate loans and 1.50% in the case of base rate loans.

MaxLinear is a hardware company founded in 2003 that provides radio-frequency analog and mixed-signal semiconductor solutions for broadband communications.