secwatch.observer — SEC 8-K summary
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Issuer:     MAYS J W INC (MAYS)
CIK:        0000054187
Form:       8-K
Filed at:   2026-04-01T23:59:59+00:00
Accession:  0001206774-26-000174
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

J.W. Mays subsidiary obtains $6.2M loan at 7% fixed rate, secured by Ohio property
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- Borrowed $6.2M at 7% fixed interest via Putnam County National Bank; due April 1, 2031.
- Monthly payments of $48,068.53 begin May 1, 2026; prepayment penalty up to 3% in first year.
- Proceeds used $3.14M to repay existing secured loan; remainder for maintenance and tenant onboarding.
- Director Dean L. Ryder, chair of Audit Committee, is affiliated with lender; terms generally available.
- Company unconditionally guarantees all obligations of subsidiary borrower.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/54187/000120677426000174/0001206774-26-000174-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/54187/000120677426000174/mays4614721-8k.htm
  HTML page:      https://secwatch.observer/filing/0001206774-26-000174

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