Author: Jane Edwards|| Date Published: April 27, 2020
The Department of the Treasury will require publicly traded defense contractors and other national security firms applying for loans under the Coronavirus Aid, Relief and Economic Security Act to provide “appropriate financial instruments” such as equity stakes and warrants, Reuters reported Friday.
The borrower’s proposed financial instruments should “provide for a reasonable participation in equity appreciation or a reasonable interest rate premium appropriate for the benefit of taxpayers,” according to the application formposted on the department’s website.
Companies operating under a Top Secret facility security clearance and other firms critical to maintaining national security should submit their loan applications by May 1.
The Treasury will disburse $17B worth of loans to national security contractors under the CARES Act.
Treasury Secretary Steve Mnuchin said at a White House briefing the department will soon issue guidance on how to dole out relief funds for defense suppliers and other national security firms.
Client Solution Architects has appointed Ellen Barletto as chief growth officer, expanding her leadership responsibilities after nearly two decades with…
Brian Meyer, federal field chief technology officer at Axonius Federal, said cybersecurity asset management could help government agencies make dozens…
“Technology transformation company Red River has acquired Invictus International Consulting to expand its cybersecurity and enterprise modernization capabilities to support…
Synergy ECP, a software engineering, cybersecurity and systems engineering services provider, has acquired NetServices, a company offering secure, mission-focused technology services. The…
