secwatch.observer — SEC 8-K summary
======================================

Issuer:     Global Crossing Airlines Group Inc. (JETMF)
CIK:        0001846084
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001193125-23-204491
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Crossing Airlines closes $35M 15% senior secured notes; appoints Axar Capital's Axelrod to board
--------------------------------------------------------------------------------

- $35M senior secured notes due 2029 at 15% fixed interest, plus 1.75% upfront fee.
- Proceeds to repay $6M existing debentures and $2.5M shareholder loan; balance for fleet expansion.
- Axar Capital funds managed $2.3B AUM; Andrew Axelrod appointed to board effective Aug 3, 2023.
- 10M warrants issued at $1.00 exercise price, expiring June 30, 2030, with cashless exercise option.
- Fleet currently 11 aircraft, expected to reach at least 16 by end of 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846084/000119312523204491/0001193125-23-204491-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846084/000119312523204491/d516278d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-204491

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