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California-based Global Digital Solutions, Inc., Announces $750,000 Bridge Loan To Facilitate Planned Merger With Illinois-based Airtronic USA, Inc., The Largest Woman-owned Small Arms Manufacturer In The United States
California-based Global Digital Solutions, Inc., Announces $750,000 Bridge Loan To Facilitate Planned Merger With Illinois-based Airtronic USA, Inc., The Largest Woman-owned Small Arms Manufacturer In The United States.
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[{"type":"text","content":"\n\n\n\n\n\n\n\nCalifornia-based Global Digital Solutions, Inc., Announces $750,000 Bridge Loan To Facilitate Planned Merger With Illinois-based Airtronic USA, Inc., The Largest Woman-owned Small Arms Manufacturer In The United States\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nCalifornia-based Global Digital Solutions, Inc., Announces $750,000 Bridge Loan To Facilitate Planned Merger With Illinois-based Airtronic USA, Inc., The Largest Woman-owned Small Arms Manufacturer In The United States\n\nBecause Airtronic USA is currently a \"debtor in possession\" under Chapter 11 of the Bankruptcy Code, approval of the bridge loan - granted on October 18, 2012 - was required from the United States Bankruptcy Court for the Northern District of Illinois\n\nPR Newswire\n\nFOLSOM, Calif., Jan. 25, 2013\n\n\n\n\n\n\n\n \n\n\n\n\n \n\n\n \n \n\n\nFOLSOM, Calif., Jan. 25, 2013 /PRNewswire/ -- Global Digital Solutions (PINKSHEETS:GDSI), a company that is positioning itself as a leader in providing knowledge-based and culturally attuned social consulting and security-related solutions in unsettled areas, today announced that it has secured $750,000 to finance a bridge loan that will facilitate the planned merger with Airtronic USA (\"Airtronic\"). \n\n\nBecause Airtronic is currently a \"debtor in possession\" under Chapter 11 of the Bankruptcy Code, the $750,000 bridge loan from GDSI to Airtronic was subject to approval from the United States Bankruptcy Court for the Northern District of Illinois. Approval for the bridge loan was granted on October 18, 2012. \n\n\nOn August 20, 2012, the companies announced that they had signed a letter of intent to enter into good faith discussions involving a potential strategic combination in which Airtronic would be acquired by GDSI. Having completed those good faith discussions, the companies signed a merger agreement and reorganization plan on October 16, 2012. The agreement, which is also subject to Bankruptcy Court approval, calls for Airtronic to continue to operate as a subsidiary of GDSI. \n\n\n\"We're ver...