Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
DecisionPoint Systems, Inc. incurred term loan of $5.0 million with MUFG Union Bank.
- Instrument
- term loan
- Principal
- $5.0 million
- Counterparty
- MUFG Union Bank
- Event
- incurrence
Exact text from the filing
the Company utilized a portion of the proceeds from a $5.0 million loan term loan extended to the Company effective March 27, 2023
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
DecisionPoint Systems, Inc. incurred revolving credit with MUFG Union Bank at bear interest at a variable rate maturing July 31, 2026.
- Instrument
- revolving credit
- Counterparty
- MUFG Union Bank
- Rate
- bear interest at a variable rate
- Maturity
- July 31, 2026
- Event
- incurrence
Exact text from the filing
The Company funded approximately $12.0 million of the Cash Purchase Price using proceeds from the Company's existing line of credit under that certain Loan and Security Agreement between the Company and MUFG Union Bank, National Association, dated July 30, 2021, as amended, which is secured by a security interest in substantially all of the Company's assets. Loans extended under the line of credit mature on July 31, 2026, and bear interest at a variable rate.
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
DecisionPoint Systems, Inc. completed an acquisition involving Durwood Wayne Williams Revocable Trust and Collins Family Living Trust (collectively, the Sellers) for $10.5 million in cash.
- Action
- acquisition
- Counterparty
- Durwood Wayne Williams Revocable Trust and Collins Family Living Trust (collectively, the Sellers)
- Consideration
- $10.5 million in cash
Exact text from the filing
solutions company, became a wholly-owned subsidiary of the Company. Pursuant to the Purchase Agreement, the aggregate consideration paid by the Company on the Effective Date was $10.5 million in cash, subject to certain adjustments for indebtedness and net working capital (the “Cash Purchase Price”). The Cash Purchase Price was funded by the Company using a
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
DecisionPoint Systems, Inc. entered into Stock Purchase Agreement with Durwood Wayne Williams Revocable Trust and the Collins Family Living Trust, as sellers, and Durwood W. Williams and Bartley E. Collins, individually valued at $10.5 million in cash (effective 2023-03-31).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Durwood Wayne Williams Revocable Trust and the Collins Family Living Trust, as sellers, and Durwood W. Williams and Bartley E. Collins, individually
- Value
- $10.5 million in cash
- Effective
- 2023-03-31
Exact text from the filing
On March 31, 2023, DecisionPoint Systems, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with the Durwood Wayne Williams Revocable Trust and the Collins Family Living Trust, as sellers (collectively, the “Sellers”) and with Durwood W. Williams and Bartley E. Collins, (the respective trustees of the Sellers), individually, (collectively and together with the Sellers, the “Seller Parties”), pursuant to which the Company acquired all of the issued and outstanding equity of Macro Integration Services, Inc. (“Macro”) from the Sellers (the “Acquisition”), effective April 1, 2023 (the “Effective Date”).
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