secwatch.observer — SEC 8-K summary
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Issuer:     Unique Logistics International, Inc. (—)
CIK:        0001281845
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001493152-24-009595
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/0001493152-24-009595-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1281845/000149315224009595/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-009595

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