Allegiant Travel Company (Nasdaq:ALGT) has announced that it has borrowed $125.0 million on March 10, 2011, under a senior secured term loan facility arranged through Citadel Securities. The term loan has a six-year term and bears interest based on the London Interbank Offered Rate or prime rate. The initial interest rate will be 5.75% for the first three months. The term loan is secured by substantially all of the assets of the Company. In connection with the borrowing under the term loan, the Company made early payment in February 2011 of all existing debt obligations secured by its MD-80 aircraft. After the closing, the Company will have outstanding debt of $145 million. Proceeds from the term loan will also be used for the funding of future capital expenditures and general corporate purposes.
Allegiant Travel Company operates as a leisure travel company in the United States. The company provides scheduled passenger services from small cities to leisure destinations.
Power3 Medical Products, Inc. (OTCBB:PWRM.OB), has big plans for the future beginning with its upcoming acquisition of Rozetta-Cell and are about to enter a long and substantial growth phase marked by advances in its science and intellectual property.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
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