Opus Bank’s Commercial Banking division provides IXI Technology, Inc. with a $2,253,911 credit facility to free up cash flow and provide for continued growth
Overview of Transaction
IXI Technology, Inc. (“IXI”) was founded in the 1980s and was purchased by Michael Carter in 2013. The company is headquartered in Yorba Linda, CA.
IXI provides custom chip sets, open architecture operating systems, embedded computers, board level products, custom software, and ruggedized electronic systems for the defense, industrial controls, and factory automation industries.
Significance of Transaction
IXI needed a flexible lender that could work with its investor needs and capital structure to provide for working capital to facilitate the continued growth of the company.
Opus Bank's Role
By listening and being flexible, Opus Bank was able to deliver a credit facility comprised of a term loan and line of credit that fit within the capital structure requirements of IXI.