Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
STAR EQUITY HOLDINGS, INC. incurred credit facility of up to $3,000,000 with Austin Financial Services, Inc. at prime rate plus 1.75% maturing March 4, 2028.
- Instrument
- credit facility
- Principal
- up to $3,000,000
- Counterparty
- Austin Financial Services, Inc.
- Rate
- prime rate plus 1.75%
- Maturity
- March 4, 2028
- Event
- incurrence
Exact text from the filing
On March 3, 2025, Alliance Drilling Tools, LLC (the “Borrower”) entered into a Loan and Security Agreement (the “Austin Loan Agreement”) with Austin Financial Services, Inc. (“Austin”) providing the Borrower with a working capital line of credit of up to $3,000,000, subject to the conditions and procedures set forth in the Austin Loan Agreement. Availability under the Austin Loan Agreement is based on a formula tied to the Borrower’s eligible accounts receivable, inventory and equipment, and borrowings bear interest at the prime rate plus 1.75%, with interest payable monthly and the outstanding principal balance payable March 4, 2028 (the “Maturity Date”).
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
STAR EQUITY HOLDINGS, INC. completed an acquisition involving Alliance Drilling Tools, LLC for up to $4,900,000 in cash and 775,000 shares of Series A Preferred Stock (closed 2025-03-03).
- Action
- acquisition
- Counterparty
- Alliance Drilling Tools, LLC
- Consideration
- up to $4,900,000 in cash and 775,000 shares of Series A Preferred Stock
- Closing
- 2025-03-03
Exact text from the filing
Company shall become a wholly owned subsidiary of the Company. In connection with the closing of the transaction, the Company will pay the Sellers aggregate consideration of (i) $4,900,000 (the “Cash Consideration”) and (ii) issue 775,000.00 shares (the “Stock Consideration”) of the Company’s 10% Series A Cumulative Perpetual Preferred Stock, par value $0.0001 per
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