Global Crossing Airlines Announces Closing Of Us$6.0 Million Financing

Mar 28, 2022•over 3 years ago

Amount Raised

$6 Million

Miami

Description

Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce that it has closed its previously announced private placement of US$6.0 million in non-convertible debentures (the “Offering”). The lead investor in the Offering was Alterna Capital Partners LLC (“Alterna”), through an affiliate of Alterna Core Capital Assets Fund II, L.P. Alterna is a real asset investor with a specific focus on transportation assets

Company Information

Company

Global Crossing Airlines Group

Location

Miami, Florida, United States

About

Debentures bear interest (the “Interest”) at the rate of 15% per annum, which Interest will be payable in cash quarterly;the Company has the option to prepay the principal amount of the Debentures on 30 business days notice, provided that if repaid in the first year the Company must provide a payment such that the holders of the Debentures receive at least 10% Interest on the principal amount, after deducting any prior Interest payments; Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the Company’s intention to fly as an ACMI and wet lease charter airline, Company’s projected aircraft fleet size and delivery dates, details of future charter operations, the destinations that the Company intends to service, the terms of the Offering and the use of proceeds of the Offering.