---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-009595"
form_type: "8-K"
ticker: null
cik: "0001281845"
company_name: "Unique Logistics International, Inc."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:41:55.632544+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Unique Logistics restructures $8.95M in related-party notes, extends maturities to June 2025

## Summary
- Canceled $4.5M Note 9 and issued Note 11 ($2.5M) and Note 12 ($3.4M), both at 15% interest, due June 30, 2025.
- Amended Second Net Assets Note ($2M) and Original Seller Note (increased to $1.053M), now both maturing June 30, 2025.
- Additional $1.4M loan advanced concurrent with Note 11, increasing total debt to ULHL to $8.953M.
- Debt is subordinated to existing facilities with TBK Bank and CB Agent Services/Alter Domus.
- Company agreed not to declare dividends from ULHL subsidiaries while notes outstanding.

## SEC filing metadata
- accession: 0001493152-24-009595
- form_type: 8-K
- cik: 0001281845
- company_name: Unique Logistics International, Inc.
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-009595
- JSON: https://secwatch.observer/filing/0001493152-24-009595.json
- Plain text: https://secwatch.observer/filing/0001493152-24-009595.txt

## Key facts
- Material Agreements
  Unique Logistics International, Inc. terminated Note 9 with Unique Logistics Holdings Limited valued at $4,500,000 (effective 2024-03-05).
  - Action: termination
  - Counterparty: Unique Logistics Holdings Limited
  - Value: $4,500,000
  - Effective: 2024-03-05
  source text: On March 5, 2024, the Company and ULHL agreed to cancel, replace and supersede Note 9, in its entirety, in favor of (i) a promissory note in the aggregate principal amount of $2,500,000 (“ Note 11 ”) and (ii) a promissory note in the aggregate principal amount of $3,400,000 (“ Note 12 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
- Material Agreements
  Unique Logistics International, Inc. entered into Note 12 with Unique Logistics Holdings Limited valued at $3,400,000 (effective 2024-03-05).
  - Action: entry
  - Counterparty: Unique Logistics Holdings Limited
  - Value: $3,400,000
  - Effective: 2024-03-05
  source text: On March 5, 2024, the Company and ULHL agreed to cancel, replace and supersede Note 9, in its entirety, in favor of (i) a promissory note in the aggregate principal amount of $2,500,000 (“ Note 11 ”) and (ii) a promissory note in the aggregate principal amount of $3,400,000 (“ Note 12 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
- Material Agreements
  Unique Logistics International, Inc. amended Amended Original Seller Note with Unique Logistics Holdings Limited valued at $1,053,000 (effective 2024-03-06).
  - Action: amendment
  - Counterparty: Unique Logistics Holdings Limited
  - Value: $1,053,000
  - Effective: 2024-03-06
  source text: Additionally, on March 6, 2024, the Company and ULHL amended the Original Seller Note (the “ Amended Original Seller Note ”), which extended the maturity date thereof from the second anniversary of the date of the Note to June 30, 2025 and increased the principal amount of the Note to $1,053,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
- Material Agreements
  Unique Logistics International, Inc. amended Second Amended Second Net Assets Note with Unique Logistics Holdings Limited (effective 2024-03-05).
  - Action: amendment
  - Counterparty: Unique Logistics Holdings Limited
  - Effective: 2024-03-05
  source text: On March 5, 2024, the Company and ULHL further amended the Amended Second Net Assets Note (the “ Second Amended Second Net Assets Note ”), which extended the maturity date thereof from March 31, 2025 to June 30, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
- Material Agreements
  Unique Logistics International, Inc. entered into Note 11 with Unique Logistics Holdings Limited valued at $2,500,000 (effective 2024-03-05).
  - Action: entry
  - Counterparty: Unique Logistics Holdings Limited
  - Value: $2,500,000
  - Effective: 2024-03-05
  source text: On March 5, 2024, the Company and ULHL agreed to cancel, replace and supersede Note 9, in its entirety, in favor of (i) a promissory note in the aggregate principal amount of $2,500,000 (“ Note 11 ”) and (ii) a promissory note in the aggregate principal amount of $3,400,000 (“ Note 12 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm

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