Homeland Security extends YA Global forbearance agreement to April 30

YA Global is owed $18.36 million after company defaults on its debt

By Devika Patel

Knoxville, Tenn., Nov. 1 - Homeland Security Capital Corp. renegotiated its forbearance agreement with investor YA Global Investments, LP on Oct. 26, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The agreement was negotiated on July 29 and had expired on Sept. 14.

The agreement now has been extended to April 30. The company's subsidiaries have also agreed to guarantee the company's obligations to YA Global as a condition for the forbearance agreement.

Under the agreement, YA Global had agreed to forbear from exercising its rights in regard to a default that may have occurred when the company failed to pay the principal and interest due on its $14.19 million of debt at maturity. With interest, the company owes the investor $18.36 million.

Based in Arlington, Va., Homeland Security invests in homeland security companies.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.