---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-303027"
form_type: "8-K/A"
ticker: "JETMF"
cik: "0001846084"
company_name: "Global Crossing Airlines Group Inc."
filed_at: "2023-12-26T23:59:59+00:00"
generated_at: "2026-06-07T07:34:06.769124+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Global Crossing Airlines closes $5M additional notes; repurchases $4.3M existing notes

## Summary
- Issued $5M of additional 15% Senior Secured Notes due 2029; net proceeds repurchased $4.316M of Aug 2023 notes.
- Issued 1,428,736 warrants at $1.00 exercise price, expiring June 30, 2030; cancelled 1,233,285 previously issued warrants.
- Andrew Axelrod appointed to board effective August 3, 2024 per subscription agreement board seat provision.
- Notes are same series as Aug 2023 notes; secured by substantially all assets and guaranteed by material subsidiaries.

## SEC filing metadata
- accession: 0001193125-23-303027
- form_type: 8-K/A
- ticker: JETMF
- cik: 0001846084
- company_name: Global Crossing Airlines Group Inc.
- filed_at: 2023-12-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846084/000119312523303027/0001193125-23-303027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846084/000119312523303027/d217794d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-303027
- JSON: https://secwatch.observer/filing/0001193125-23-303027.json
- Plain text: https://secwatch.observer/filing/0001193125-23-303027.txt

## Key facts
- Debt Financings
  Global Crossing Airlines Group Inc. incurred senior notes of $5 million with Additional Purchasers at 15% per annum.
  - Instrument: senior notes
  - Principal: $5 million
  - Counterparty: Additional Purchasers
  - Rate: 15% per annum
  - Event: incurrence
  source text: On December 21, 2023, the Issuer, GCA and the Guarantors, and certain other Purchasers (the “Additional Purchasers” and together with the Initial Purchasers, the “Purchasers”) entered into a Subscription Agreement for the sale of an additional $5 million of Notes (the “Additional Notes”) and 1,428,736 warrants.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846084/000119312523303027/0001193125-23-303027-index.htm
- Debt Financings
  Global Crossing Airlines Group Inc. incurred senior notes of $35 million with Initial Purchasers at 15% per annum maturing August 2, 2029.
  - Instrument: senior notes
  - Principal: $35 million
  - Counterparty: Initial Purchasers
  - Rate: 15% per annum
  - Maturity: August 2, 2029
  - Event: incurrence
  source text: Pursuant to the terms of the Subscription Agreement, on the Closing Date, the Initial Purchasers purchased (i) of Senior Secured Notes due 2029 (“Notes”) in the aggregate principal amount of $35 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846084/000119312523303027/0001193125-23-303027-index.htm
- Executive change
  Andrew Axelrod was appointed as director at Global Crossing Airlines Group Inc..
  - Action: appointed
  - Role: director
  source text: Pursuant to the Subscription Agreement, the board of directors of the Issuer appointed Andrew Axelrod a director of the Issuer on August 3, 2024, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846084/000119312523303027/0001193125-23-303027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.