News & Achievements

Daktronics, Inc. Strengthens Financial Position by Securing $100 Million In Capital Commitments

Deals & Cases

May 11, 2023 • 1-minute read

Vinson & Elkins advised Daktronics, Inc. (“the Company”) and its Board’s Strategy and Financing Review Committee in securing $100 million in additional capital.

The additional capital is comprised by a 3-year $75 million senior secured credit facility with JPMorgan Chase and a $25 million convertible debt financing from Alta Fox Capital Management, LLC (“Alta Fox”). In connection with the financing, Vinson & Elkins also advised the Company and the Committee with respect to the standstill and voting agreement between the Company and Alta Fox entered into on March 19.

The Vinson & Elkins team was led by partners Francisco Morales Barrón, Tzvi Werzberger and Jackson O’Maley, with assistance from partners Lawrence Elbaum, Steve Gill and Patrick Gadson, counsel Carter Olson and Randy Aman, senior associates Sang Lee and Desi Baca and associates Layton Suchma, Anita Balasubramian, Lizzy Sweeny, Judy Park, Ryan Wynne, Nina Bhatia, and Chloe Schmergel. Other key team members included associates Catherine Briley; partner Ron Nardini and counsel Peter Rogers; partner Patricia Adams and senior associate Brian DeShannon; partner Becky Baker; and counsel Rajesh Patel.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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