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.
Redhawk Federal Solutions has acquired Twenty8 Technology to expand its data interoperability and artificial intelligence and machine learning engineering capabilities.…
Antenna Research Associates has appointed Jay Abendroth, a seasoned defense electronics executive, as chief growth officer to lead business development…
Precise Systems has appointed Michael “Mike” Risik as vice president of business development. The Lexington Park, Maryland-based company said Wednesday Risik will…
