Inseego closed on a $50 million senior debt facility with Siena Lending Group. Crown Partners served as exclusive financial advisor to Inseego in connection with this transaction.
Headquartered in San Diego, CA, Inseego is an industry provider of intelligent device-to-cloud solutions that extend the 5G network edge, enabling broader 5G coverage, multi-gigabit data speeds, low latency and strong security to deliver highly reliable internet access. Inseego’s mobile broadband, fixed wireless access (FWA) solutions, and software platform incorporate the most advanced technologies (including 5G, 4G LTE, WiFi 6 and others) into a wide range of innovative products that provide robust connectivity indoors, outdoors and in the harshest industrial environments. Inseego’s products and SaaS solutions that provide wireless connectivity for service providers, enterprises and government entities worldwide are designed and developed in the U.S.A.
The facility, which closed on Aug. 5, 2022, provides the company with increased working capital to support the company’s continuing growth in the carrier and enterprise 5G ecosystem.
“This highlights the impactful results our clients achieve through access to our debt market expertise and senior lender relationships,” Evan Nadler, managing partner at Crown Partners, said. “Inseego Corp. has a long history of mobile connectivity innovation and we are happy to have been able to assist the company in securing additional capital to strengthen its existing position as an emerging player in the 5G marketplace.”
“Crown did an outstanding job for us and we couldn’t be happier with the outcome,” Jeffrey Tuder, chairman of the board of directors at Inseego, said. “We engaged them to run a broad, efficient process with a very tight timeframe and they delivered across the board. They were hands on and involved in all facets of the transaction. Evan’s insights and judgements made all the difference. In the end, we received multiple term sheets that met our objectives, and ultimately, we selected Siena who we think will be an excellent partner for Inseego as its business continues to grow and evolve.”
