secwatch.observer — SEC 8-K summary
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Issuer:     TUCOWS INC /PA/ (TCX)
CIK:        0000909494
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0001437749-23-012777
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tucows' Ting subsidiary closes $239M asset-backed securitization for fiber network expansion
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- Issued $239M in secured notes: $168.4M Class A-2 (5.95%), $23.3M Class B (7.40%), $46.9M Class C (9.95%).
- Weighted average coupon 6.9%; effective yield 8.2% after original issue discount.
- Proceeds fund fiber network expansion, redeem $31.0M Series A Preferred Units, and general corporate purposes.
- Contributed Markets include 96,000 serviceable addresses and 35,000 customers across six U.S. states.
- Securitization structured as master trust; allows future additions subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/909494/000143774923012777/0001437749-23-012777-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/909494/000143774923012777/tcx20230428_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-012777

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