At a special meeting, FreightCar America stockholders approved the issuance of a warrant under its previously announced new secured term loan facility with financing partner CO Finance LVS VI as well as the funding of the term loan under the facility.
“I want to express our gratitude to the stockholders of FreightCar America for voting today to approve the new term loan financing, effectively securing the future of our company and putting FreightCar America in a position to succeed and thrive going forward,” Jim Meyer, CEO of FreightCar America, said.
“The new financing arrangement, in partnership with our lender, marks the last essential step in the competitive repositioning of our business operations. This new secured term loan will not only help support our capital needs for production and future operational expansions at our single production facility in Castaños, Mexico, but it effectively enables the company to execute on our strategic repositioning and growth strategy. We are thankful for the support of our stockholders as FreightCar America embarks on a path towards meaningful stockholder value creation.”
FreightCar America manufactures a range of railroad freight cars, supplies rail car parts and leases freight cars through its FreightCar America Leasing Company subsidiaries.
