Socket Mobile, which reported June 30 to its lender, Silicon Valley Bank, that it was out of compliance for a second month in a row with covenants of its loan, announced today the second amendment to the agreement since it was first drawn up Dec. 31.
The most recent changes included an agreement by the bank to Read the rest of this entry »
The parent company of Silicon Valley Bank said today it received “preliminary approval” from the U.S. Treasury Department to partake in its Troubled Asset Relief Program (”TARP”) and receive up to $235 million under its Capital Purchase Program, according to a press release issued by SVB Financial Group today.
The company plans to submit final documentation to the Treasury in order to close the proposed transaction before Dec. 31.
The news comes about a week after Read the rest of this entry »
Subscribe via RSS all feeds - Tech feed - O'Brien feed - Docu-Drama feed - Pink Slip 2.0 feed
