{"id":8952,"date":"2020-11-16T19:43:20","date_gmt":"2020-11-17T01:43:20","guid":{"rendered":"http:\/\/planesintheair.com\/?p=8952"},"modified":"2020-11-16T19:45:08","modified_gmt":"2020-11-17T01:45:08","slug":"mesa-air-completes-second-closing-on-secured-loan-facility","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=8952","title":{"rendered":"Mesa Air Completes Second Closing On Secured Loan Facility"},"content":{"rendered":"\n

Mesa Air Group, Inc.\u00a0(NASDAQ:\u00a0MESA<\/a>) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the\u00a0Coronavirus Air, Relief, and Economic Security Act (CARES Act).<\/p>\n\n\n\n

The Loan Agreement provided a secured term loan facility of up to\u00a0$200 million. On\u00a0October 30, 2020, Mesa borrowed\u00a0$43 million\u00a0under the facility and today, completed a second closing to borrow an additional\u00a0$152 million. These funds may be used for general corporate purposes and operating expenses, to the extent permitted by the CARES Act.<\/p>\n\n\n\n

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\u201cI\u2019d like to again express my sincere gratitude to everyone involved in making this deal happen. Our people have been working very hard to ensure Mesa and its employees are prepared to weather this storm\u201d, said Jonathan Ornstein, Chairman and Chief Executive Officer. \u201cThese additional funds will substantially benefit our airline and the communities we serve as we continue to navigate the obstacles created by the pandemic\u201d.<\/p>\n\n\n\n

In connection with the additional\u00a0$152 million\u00a0drawn under the facility, Mesa issued warrants to the\u00a0U.S.\u00a0Treasury\u00a0to purchase 3,819,095 shares of common stock, no par value. The Warrants have a five-year term from the date issued, were issued pursuant to the Warrant Agreement, and have substantially identical terms to the warrants issued on the initial closing.<\/p>\n\n\n\n

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Mesa Air Group, Inc. (NASDAQ: MESA) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the <\/p>\n","protected":false},"author":1,"featured_media":8954,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8637,10174,797,89,5637,4552,8222,10701,10700,5992,5670,2203,5500,4957,8651,10169,10176,1397,10173,8970,10195,10171,868,10182,1103],"tags":[1011,3974,1697,539,420,160,4195,12901,11052,2053,1216,10854,3163,4380,5521,10030,1889,2837,6882,1907,4265,2665,3683,4062,2030,745,7016,10866,3615,2353,2370,11059,412,10463,2898,2899,10938,9665,2096,12753,7895,12068,4716,1325,9877,2998,7344,2275,101,6784,4058,1691,1658,7104,631,10943,2477,4353],"class_list":["post-8952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-air-cargo-news","category-airline","category-airline-news","category-aviation-news","category-business-news","category-cargo-news","category-consumer-news","category-coronavirus","category-covid-19","category-economic-news","category-economy-news","category-finance-news","category-frequent-flyer-news","category-global-politics","category-joint-venture-news","category-news","category-stock-news-2","category-stock-news","category-stockairline","category-texas-news","category-transport","category-transportation","category-transportation-news","category-travel","category-travel-news","tag-act","tag-additional","tag-agreement","tag-air","tag-airline","tag-aviation","tag-benefit","tag-borrowed","tag-cares","tag-chairman","tag-chief","tag-closing","tag-common","tag-communities","tag-completes","tag-coronavirus","tag-corporate","tag-economic","tag-employees","tag-executive","tag-expenses","tag-facility","tag-five","tag-funding","tag-general","tag-group","tag-guarantee","tag-issued","tag-loan","tag-mesa","tag-nasdaq","tag-navigate","tag-news","tag-obstacles","tag-officer","tag-operating","tag-pandemic","tag-prepared","tag-purchase","tag-purposes","tag-received","tag-receiving","tag-relief","tag-second","tag-secured","tag-security","tag-serve","tag-shares","tag-stock","tag-storm","tag-term","tag-transport","tag-transportation","tag-treasury","tag-u-s","tag-warrants","tag-weather","tag-year"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8952"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8952\/revisions"}],"predecessor-version":[{"id":8955,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8952\/revisions\/8955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/media\/8954"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}