Westell Renews $5 Million Line of Credit
AURORA, Ill., September 2, 2025 -- Westell Technologies, Inc. (the “Company” or “Westell”), a leading provider of high-performance wireless infrastructure solutions, announced today the execution of a new $5 million credit agreement with St. Charles Bank & Trust Company, N.A., effective August 31, 2025. The agreement replaces the Company’s existing asset–based credit facility, which was approaching expiration.
The updated credit agreement has an expiration date of August 31, 2026, providing a full year of additional financial runway. Additionally, the new agreement provides a simplified structure with the elimination of the borrowing base calculation.
The new credit facility reinforces Westell’s robust balance sheet and provides continued flexibility for operational requirements, working capital management, and strategic expansion opportunities. The line of credit features competitive terms and conditions that reflect the Company's strong financial position and banking relationship. Notably, the Company has never drawn on this facility or its predecessor.
Westell’s financial strength is further demonstrated by its substantial cash position, with $18.6 million in cash and cash equivalents reported as of June 30, 2025.
About Westell
Westell is a leading provider of high-performance wireless infrastructure solutions focused on expanding reliable communication networks through collaborative innovation. The Company's portfolio of products and solutions enable service providers and network operators to improve performance and reduce operating expenses. With millions of products successfully deployed worldwide, Westell is a trusted partner for transforming networks into high quality, reliable systems. For more information, please visit www.westell.com.
Westell Technologies, Inc. trades on the OTCID marketplace (previously the Pink Open Market) under the symbol WSTL. Investors can find Real-Time quote and market information for the Company on www.otcmarkets.com.
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Certain statements contained herein that are not historical facts or that contain the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “may,” “will,” “plan,” “should,” or derivatives thereof and other words of similar meaning are forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the product demand and market acceptance risks, customer spending patterns, need for financing and capital, economic weakness in the United States (“U.S.”) economy and telecommunications market, the effect of international economic conditions and trade, legal, social and economic risks (such as import, licensing and trade restrictions), the impact of competitive products or technologies, competitive pricing pressures, customer product selection decisions, product cost increases, component supply shortages, new product development, excess and obsolete inventory, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the ability to successfully identify, acquire and integrate acquisitions, the effects of the Company's accounting policies, retention of key personnel, the effects and consequences of pandemics. The Company undertakes no obligation to publicly update these forward-looking statements to reflect current events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events, or otherwise.
X (Twitter): @Westell_Tech
Westell Contact:
Tim Duitsman
President and Chief Executive Officer Westell Technologies
630-375-4373
tduitsman@westell.com
Released September 2, 2025