GlobalX (NEO: JET, JET.B) (OTCQB: JETMF) has closed the placement of $35 million of senior secured notes due in 2029 with funds managed by Axar Capital Management LP and its affiliates, a value-oriented alternative investment firm managing over $2.3 billion in assets. The proceeds from the notes will refinance all of the company’s existing indebtedness and provide GlobalX the capital required to continue to execute its growth plan and expand its passenger and freighter aircraft fleet from 11 aircraft to at least 16 by year-end 2023. ROTH MKM acted as joint placement agent for the placement.
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About Global Crossing Airlines Group Inc.
GlobalX is a U.S. 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. GlobalX flies as a passenger ACMI and charter airline serving the U.S., Caribbean, European and Latin American markets. GlobalX is also now operating ACMI cargo service flying the A321 freighter. For more information, visit www.GlobalXAir.com.
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