FLYHT Secures $5 Million in Unsecured Debenture

FLYHT Aerospace Solutions (TSE:FLY) has released an update.

FLYHT Aerospace Solutions Ltd. has completed a financial arrangement with the closure of a $5 million unsecured debenture with a third-party lender, Pinnacle Island II LP. The three-year debenture features a 12% annual interest rate paid quarterly and includes the issuance of 2 million purchase warrants to the lender. FLYHT, known for providing actionable intelligence and safety solutions to the aviation industry, secured advisory services from Paradigm Capital Inc. for the transaction.

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