secwatch.observer — SEC 8-K summary
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Issuer:     SOLITRON DEVICES INC (SODI)
CIK:        0000091668
Form:       8-K
Filed at:   2024-05-24T23:59:59+00:00
Accession:  0001654954-24-006907
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91668/000165495424006907/0001654954-24-006907-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91668/000165495424006907/sodi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-006907

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