PRNewswire-FirstCall/ -- Tri-S Security Corp. (
In addition, the amendment extends the maturity date of the $2.5 million term loan provided under the credit facility an additional year, from March 2009 to March 2010. With this extension, the term loan will move from a current to a long-term liability. This extension will improve various financial ratios and gives the company eighteen months before the term loan becomes due.
Pursuant to the amendment, the company issued to its senior lender a warrant to purchase 125,000 shares of common stock at an exercise price of $1.27 per share, which is 110% of the closing sales price of the common stock on the day the amendment was signed.
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