Business Context and Reporting Period
Company: Freightcar America, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 26, 2005
Event: Termination of a Material Definitive Agreement (Item 1.02).
Key Financial Metrics
This filing does not provide specific revenue, profit, cash flow, margin, or liquidity ratios. The primary financial event reported is the repayment of debt:
- Debt Repaid: Aggregate principal and accrued interest on industrial revenue bonds issued on December 12, 1995.
- Funding Source: Proceeds from the Company's initial public offering (IPO) closed on April 11, 2005.
- Original Maturity: December 1, 2010.
- Interest Rate: Weekly variable rate.
Material Changes
On May 26, 2005, the Company's subsidiary, Freight Car Services, Inc., fully repaid the outstanding industrial revenue bonds. Consequently, the obligations under the Loan Agreement with the City of Danville, Illinois, and the related promissory note were terminated effective immediately.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of new risks. The document strictly reports the historical event of debt extinguishment and the termination of the associated legal agreements.
Investor Verification Checklist
- Confirm the exact aggregate principal and accrued interest amounts repaid (not specified in this text).
- Verify the total proceeds raised in the April 11, 2005 IPO to assess remaining liquidity.
- Review the terminated Loan Agreement with the City of Danville to understand any potential release of collateral or covenants.
- Check subsequent filings for any new debt instruments replacing the retired bonds.