secwatch.observer — SEC 8-K summary
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Issuer:     FreightCar America, Inc. (RAIL)
CIK:        0001320854
Form:       8-K
Filed at:   2025-01-06T23:59:59+00:00
Accession:  0000950170-25-002119
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FreightCar America closes $115M term loan, redeems Series C Preferred Stock from PIMCO
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- Borrowed $115M under new Term Loan Agreement with Blue Torch Finance LLC; maturity Dec 31, 2028.
- Proceeds of $113.3M used to redeem all outstanding Series C Preferred Stock at $1,000/share, including $27.9M accrued dividends.
- Prior Siena Lending Group loan and PIMCO Reimbursement Agreement repaid in full and terminated.
- Interest at Term SOFR + 6.00% (floor 3.00%) or base rate + 5.00%; covenants include max net leverage and min liquidity.
- PIMCO, beneficial owner of 47.4% of common stock, redeemed its Series C Preferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320854/000095017025002119/0000950170-25-002119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320854/000095017025002119/rail-20241231.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-002119

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer