LICT Corporation (OTC Pink: LICT) has borrowed the entire USD 50 million under its revolving credit facility with CoBank, the company said.
The addition of the USD 50 million in new borrowings increases LICT´s pro-forma gross cash balance to just under USD 90 million with net cash of USD 76 million. LICT expects to continue to generate free cash flow throughout the year.
LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas. For further information, visit our website listed above.