secwatch.observer — SEC 8-K summary
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Issuer:     FORWARD AIR CORP (FWRD)
CIK:        0000912728
Form:       8-K
Filed at:   2023-12-20T23:59:59+00:00
Accession:  0001628280-23-042025
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Forward Air subsidiary secures $1.125B term loan to finance Omni merger, placed in escrow
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- GN Loanco, LLC obtained $1.125B senior secured term B loans from Citibank; mature Dec 19, 2030.
- Proceeds deposited into escrow; will fund cash consideration and refinance debt if merger closes.
- Interest at SOFR + 4.50% or base rate + 3.50%; 1% annual amortization after merger close.
- If merger not closed by Feb 12, 2024 or terminated, loans subject to special mandatory prepayment.
- Merger (announced Aug 10, 2023) remains subject to ongoing legal proceedings in TN and DE.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/912728/000162828023042025/0001628280-23-042025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/912728/000162828023042025/fwrd-20231219.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-042025

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