Solitron Devices subsidiary purchases facility for $1.75M, financed by $1.4M BOA loan at 6.39%

SOLITRON DEVICES INC

Micro Engineering exercised lease option to buy Apopka, FL property for $1,750,000.
Bank of America loaned $1,400,000; interest at 6.39% per annum, monthly payments $10,444.14.
Loan matures May 31, 2034; secured by property and guaranteed by Micro Engineering.
Proceeds used to finance purchase; prepayment allowed with accrued interest and yield maintenance.

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