![]() ![]() On January 15, 2021, the Company received $863,685,200, or 50 percent, of the total expected Payroll Support (the “ Initial Payroll Support”) pursuant to the PSP Extension Agreement. On January 15, 2021, the Company entered into a payroll support program extension agreement (the “ PSP Extension Agreement”) with Treasury, pursuant to which the Company will receive payroll support funding (“ Payroll Support”) under the PSP Extension Law. Funds are expected to be disbursed to the Company in multiple installments. The Company’s expected aggregate receipts under the program total $1,727,370,400, for which the Company expects to provide Treasury consideration in the form of a promissory note in an amount equal to $488,211,120 and of warrants to purchase up to an aggregate of 1,054,907 shares of the Company’s common stock, subject to adjustments by Treasury pursuant to the terms of the PSP Extension Law in each case. Funds received under the PSP Extension Law must be used to pay qualifying Employee salaries, wages and benefits through at least March 31, 2021. (the “ Company”) entered into definitive documentation with the United States Department of Treasury (“ Treasury”) with respect to funding support pursuant to Subtitle A of Title IV of Division N of the Consolidated Appropriations Act, 2021 (the “ PSP Extension Law”). On January 15, 2021, Southwest Airlines Co. The information included pursuant to Item 2.03 is incorporated by reference into this Item 1.01.Ĭreation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ☐Įntry into a Material Definitive Agreement If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Name of each exchange on which registered Securities registered pursuant to Section 12(b) of the Act: Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ![]() Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ![]() Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) (Former name or former address if changed since last report.)Ĭheck the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |