Quarterly report [Sections 13 or 15(d)]

Subsequent Events

v3.26.3
Subsequent Events
 9 Months Ended
Sep. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 20, 2026, Cobra Aviation, a subsidiary of the Company, entered into two separate aircraft engine lease agreements with third-party lessees. The aggregate minimum lease payments under the leases are approximately $4.3 million and $1.4 million, respectively.
On July 27, 2026, the Company committed to purchase three aircraft for an aggregate purchase price of $32.4 million. In connection with the purchase, the Company paid approximately $11.3 million subsequent to September 30, 2026. On October 22, 2026, the Company entered into a letter of intent to sell the three aircraft frames and certain related components, excluding the engines, to a third party for an aggregate purchase price of $8.5 million.
On October 28, 2026, Cobra Aviation Services LLC and Leopard Aviation LLC, aviation subsidiaries of the Company, entered into a Loan and Security Agreement with Bank7 providing for senior secured term loan commitments of up to $58.0 million to finance or reimburse acquisitions of additional aviation assets. The facilities consist of a $25.0 million Term Loan A facility and a $33.0 million Term Loan B facility. No amounts were advanced at closing. The loans bear interest at a variable annual rate equal to the greater of 6.25% and the prime rate published in The Wall Street Journal plus 0.50%, mature on October 26, 2030 and are guaranteed by the Company and secured by substantially all assets of the borrowers. The Loan and Security Agreement is filed as Exhibit 10.1 to this Quarterly Report on Form 10-Q.