PCT International said it has secured $25 million in credit, some of which the company plans to use to recapitalize earlier debt, with the balance used to support global expansion.
Specifically, the company plans to expand manufacturing capacity, increase research and development, and support expansion of its line of last-mile broadband products.
The new financing comes from Bibby Financial Services and China Bank of Communications.
“The commitments from our financing partners in the United States and China demonstrate the success of our business model, high-quality product offering and industry-leading infrastructure. The new facilities greatly enhance our financial flexibility and capacity to support the global expansion of our brand, products offering, customer service and international reach,” commented Steven Youtsey, founder and CEO of PCT international.
The company will use some of the money to recapitalize earlier debt, with the balance used to support global expansion.