CalAmp Files Bankruptcy to Complete Lender-Backed Restructuring

CalAmp Corp., which develops business software designed to track vehicles and improve company logistics, has filed bankruptcy to complete a lender-backed plan to cut debt.

Publicly traded CalAmp filed Chapter 11 on Monday in Delaware to execute a restructuring deal where certain owners of its secured notes will swap out debt for 100% of the equity in the reorganized business. Other CalAmp creditors would be fully repaid in cash, the company said in court papers.

CalAmp estimated its assets are worth about $281.2 million and that its liabilities are worth about $355.4 million. Shares of the company dropped 54% ...