Friendly investors provide Chapter 11 financing for Tamarack Aerospace Group

Terry Spruce
By Terry Spruce August 9, 2019 10:25

Friendly investors provide Chapter 11 financing for Tamarack Aerospace Group

Sandpoint Idaho, USA – August 9, 2019 – Tamarack Aerospace Group announced that it has received final U.S. Bankruptcy Court authorisation to accept the full amount of its $1.95 million in committed debtor-in-possession (“DIP”) financing. The new liquidity is provided by a consortium of friendly investors including existing Active Winglet customers, vendors, and other company stakeholders who are committed to Tamarack’s future.

Tamarack President Jacob Klinginsmith says, “In a matter of a few days, these supporters stepped forward enthusiastically to participate in this opportunity. They understand our industry and believe in the long-term value of our innovative Active Winglet product. This financing from friendly investors is now the only debt secured by our IP and is an important step in our reorganization which allows us to continue serving our expanding fleet.”

“We’re excited to be back on track with our sales and installation process,” Klinginsmith says. “We have several installations scheduled or in process now, and we’re seeing strong interest- it’s going to be a good second half of the year.”

Terry Spruce
By Terry Spruce August 9, 2019 10:25

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