Quarterhill Inc T.QTRH

Alternate Symbol(s): QTRHF | T.QTRH.DB

Technology Electronic Components

Quarterhill Inc. is a Canada-based company, which is engaged in providing of tolling and enforcement solutions in the intelligent transportation system (ITS) industry. The Company is focused on the acquisition, management and growth of companies that provide integrated, tolling and mobility systems and solutions to the ITS industry as well as its adjacent markets. The Company’s solutions include congestion charging, performance management, insights & analytics, analytics, toll interoperability, mobility marketplace, maintenance, e-screening, tire anomaly detection, multi-modal data, intersection management, and others. Its tolling includes roadside technologies, commerce and mobility platforms, audit and enforcement, and tolling services. Its safety and enforcement comprise commercial vehicles, automated enforcement, freight mobility, smart transportation, and data solutions. The Company’s wholly owned subsidiary is International Road Dynamics Inc.

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Quarterhill Inc > The Other Press Release Dated June 15, 2023

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Post by AlwaysLong683on Jun 19, 2023 10:46pm

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Post# 35504423

The Other Press Release Dated June 15, 2023

Don't ignore other press release entitled "Quarterhill Announces Update to Credit Agreement".

Excerpt from PR:

"Quarterhill ITS Inc. was offside certain ratio covenants in the Credit Agreement. Under the terms agreed to in principle of the amended Credit Agreement, Quarterhill ITS Inc. will be granted a covenant relief period by the Syndicate through December 31, 2023."

The good news is creditors have enough faith in QRTH going forward that they were willing to cut them some slack in terms of covenant relief. If creditors refused to provide this relief, QRTH may have been forced to seek creditor protection under the Companies' Creditors Arrangement Act (CCAA),

Now the big issue is whether QRTH can deliver on the purchase order backlog on time and on budget. If there are delays in completting these projects on time or they experience cost overruns that are not passed on to clients, creditors may have second thoughts about the company should it violate debt convenants again, similar to what happened to Xebec Adsorption which also had a large backlog of projects but was forced into creditor protection anyway as creditors had enough.

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