Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
VSE CORP incurred term loan of $90.0 million with Citizens Bank, N.A. (as administrative agent) and certain other lenders.
- Instrument
- term loan
- Principal
- $90.0 million
- Counterparty
- Citizens Bank, N.A. (as administrative agent) and certain other lenders
- Event
- incurrence
Exact text from the filing
the extension of a new term loan in the aggregate principal amount of $90.0 million (the “New Term Loan”), which will mature on the same date as the Company’s existing term loans;
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
VSE CORP completed a disposition involving Loar Group Inc. for approximately $30 million (closed 2023-07-03).
- Action
- disposition
- Counterparty
- Loar Group Inc.
- Consideration
- approximately $30 million
- Closing
- 2023-07-03
Exact text from the filing
Concurrent with the closing of the Desser Acquisition, the Company sold Desser Aerospace’s propriety solutions businesses to Loar Group Inc. for cash consideration of approximately $30 million (the “Loar Sale”).
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
VSE CORP completed an acquisition involving Desser Aerospace for approximately $124 million (closed 2023-07-03).
- Action
- acquisition
- Counterparty
- Desser Aerospace
- Consideration
- approximately $124 million
- Closing
- 2023-07-03
Exact text from the filing
being a wholly-owned subsidiary of VSE Aviation (the “Desser Acquisition”). VSE Aviation paid total cash consideration in connection with the Desser Acquisition of approximately $124 million, subject to certain customary post-closing adjustments. Concurrent with the closing of the Desser Acquisition, the Company sold Desser Aerospace’s propriety solutions businesses
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
VSE CORP amended Fifth Amendment with Citizens Bank, N.A. and certain other banks and financial institutions from time to time party thereto as lenders, and Citizens Bank, N.A., as administrative agent valued at aggregate principal amount of $90.0 million (effective 2023-07-03).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Citizens Bank, N.A. and certain other banks and financial institutions from time to time party thereto as lenders, and Citizens Bank, N.A., as administrative agent
- Value
- aggregate principal amount of $90.0 million
- Effective
- 2023-07-03
Exact text from the filing
On July 3, 2023, VSE Corporation (“VSE” or the “Company”) and a majority of its wholly owned subsidiaries, as borrowers, entered into that certain Fifth Amendment (the “Amendment”) to the Fourth Amended and Restated Business Loan and Security Agreement, dated as of January 5, 2018 (as amended, restated or otherwise modified to date, the “Credit Agreement”) with Citizens Bank, N.A. and certain other banks and financial institutions from time to time party thereto (the “Lenders”) as lenders, and Citizens Bank, N.A., as administrative agent (as successor by merger to Citizens Bank of Pennsylvania ) (in such capacity, the “Administrative Agent”). The Amendment, among other things, provides for the following: (i) the extension of a new term loan in the aggregate principal amount of $90.0 million (the “New Term Loan”), which will mature on the same date as the Company’s existing term loans
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