|
|
Article: Aerosonic Borrows $800,000 Pursuant to Loan Agreements.
- Article from:
- Business Wire
- Article date:
- May 28, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
CLEARWATER, Fla. -- Aerosonic Corporation (NYSE Amex:AIM), a leading supplier of precision flight products for commercial, business and military aircraft, announced today that on May 21, 2009, the company borrowed an aggregate principal amount of $800,000 upon a cash draw down under each of the three unsecured loan agreements (each, a "Loan Agreement" and together, the "Loan Agreements") entered into by the Corporation on May 14, 2009 with three Aerosonic stockholders, Bruce J. Stone, Redmond Family Investments, LLLP and Martin L. Schaffel (the "Investors"). Pursuant to the terms of the Loan Agreements, Aerosonic issued an aggregate of 80,000 shares of Aerosonic common ...