The bankrupt next-gen wireless-network builder Powerwave Technologies Inc., which has been shopping itself around to potential buyers, inked a Debtor in Possession (DIP) credit and security agreement with P-Wave Holdings LLC, an affiliate of The Gores Group. P-Wave offered Powerwave a multiple-draw senior secured priming term loan credit facility of as much as $5 million for general corporate purposes and for working capital as the company winds down its bankruptcy/sales efforts. Bids for Powerwave are due on May 9, and its auction date is May 13. In related Powerwave news, President/CEO Ronald J. Buschur resigned from the company, replaced by new CEO Khurram Sheikh, who had been CTO.

The Daily


Groups Urge Congress to Pass Device Voucher

More than 100 public interest, consumer, education, and civil rights advocacy groups are asking the Senate to include a device voucher program within the budget reconciliation package to connect more

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