Latest news with #Tulsa-based
Business Wire
12 hours ago
- Business
- Business Wire
Unit Corporation Announces Payment and Record Dates for Second Quarter Cash Dividend
TULSA, Okla.--(BUSINESS WIRE)--Unit Corporation (OTCQX: UNTC) (Company) announced today that the quarterly cash dividend of $1.25 per share of common stock for the second quarter of 2025 will be paid on June 27, 2025, to shareholders of record as of the close of business on June 17, 2025. The quarterly cash dividend will be funded by cash on the Company's balance sheet. About Unit Corporation Unit Corporation is a Tulsa-based, publicly held energy company engaged through its subsidiaries in oil and gas production and contract drilling. For more information about Unit Corporation, visit its website at
Business Wire
a day ago
- Business
- Business Wire
NORDAM Completes Comprehensive Debt Refinancing
TULSA, Okla.--(BUSINESS WIRE)--The NORDAM Group LLC ('NORDAM' or the 'Company') announced it repaid the remaining outstanding principal amount of its Term Loan B issued on 9 April 2019. The instrument was refinanced by the issuance of a new $225mm private credit term loan, due 2031. The new term loan was provided by a group of lenders led by Crestline Investors, Inc. with Crestline Direct Finance, L.P. serving as the Administrative Agent. JPMorgan Chase Bank, N.A. and Huntington Business Credit, arranged the facility as Joint Lead Arrangers and Bookrunners. Additionally, the Company entered into a new $100mm ABL revolving credit facility, due 2030, provided by JPMorgan Chase Bank, N.A. and Huntington Business Credit. 'This is an important milestone for NORDAM as we embark on our next chapter of growth,' said NORDAM CEO Meredith Siegfried Madden. 'We are pleased to secure backing from Crestline and additional lending investors and look forward to providing world-class products and services to our valued customers. With Crestline's partnership, we believe we are well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead.' Michael Aingorn, Senior Managing Director at Crestline Investors, Inc. commented, 'We are impressed by NORDAM's strong position in the aerospace value chain and are excited to partner with Meredith and her team to support the Company's future growth. We believe that NORDAM's manufacturing expertise and deep customer relationships position the Company well to capitalize on the continued growth in the aerospace industry.' NORDAM was advised by Davis Graham & Stubbs LLP. Paul Hastings LLP served as legal advisor to Crestline Investors, Inc. while Simpson Thatcher & Bartlett LLP advised JPMorgan Chase Bank, N.A. and Huntington Business Credit. ABOUT NORDAM Founded in 1969 on family values and now employing 2,500 people across multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is one of the largest independently owned aerospace companies. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures and spacecraft components, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more at ABOUT CRESTLINE INVESTORS Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit
Yahoo
a day ago
- Business
- Yahoo
NORDAM Completes Comprehensive Debt Refinancing
TULSA, Okla., June 06, 2025--(BUSINESS WIRE)--The NORDAM Group LLC ("NORDAM" or the "Company") announced it repaid the remaining outstanding principal amount of its Term Loan B issued on 9 April 2019. The instrument was refinanced by the issuance of a new $225mm private credit term loan, due 2031. The new term loan was provided by a group of lenders led by Crestline Investors, Inc. with Crestline Direct Finance, L.P. serving as the Administrative Agent. JPMorgan Chase Bank, N.A. and Huntington Business Credit, arranged the facility as Joint Lead Arrangers and Bookrunners. Additionally, the Company entered into a new $100mm ABL revolving credit facility, due 2030, provided by JPMorgan Chase Bank, N.A. and Huntington Business Credit. "This is an important milestone for NORDAM as we embark on our next chapter of growth," said NORDAM CEO Meredith Siegfried Madden. "We are pleased to secure backing from Crestline and additional lending investors and look forward to providing world-class products and services to our valued customers. With Crestline's partnership, we believe we are well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead." Michael Aingorn, Senior Managing Director at Crestline Investors, Inc. commented, "We are impressed by NORDAM's strong position in the aerospace value chain and are excited to partner with Meredith and her team to support the Company's future growth. We believe that NORDAM's manufacturing expertise and deep customer relationships position the Company well to capitalize on the continued growth in the aerospace industry." NORDAM was advised by Davis Graham & Stubbs LLP. Paul Hastings LLP served as legal advisor to Crestline Investors, Inc. while Simpson Thatcher & Bartlett LLP advised JPMorgan Chase Bank, N.A. and Huntington Business Credit. ABOUT NORDAM Founded in 1969 on family values and now employing 2,500 people across multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is one of the largest independently owned aerospace companies. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures and spacecraft components, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more at ABOUT CRESTLINE INVESTORS Crestline Investors, Inc. is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Toronto, and Tokyo. The firm has approximately $18 billion in assets under management (as of December 31, 2024), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit View source version on Contacts NORDAM Media Relations +1 918-878-4000MarCom@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Oklahoma governor signs income tax cut deal: What to know
Republican Gov. Kevin Stitt has signed an income tax cut into law, accomplishing his main goal of the legislative session with days to spare. The quarter-point cut will reduce Oklahoma's income tax rate to 4.5% for most earners, while costing the state between $160 million and $300 million a year in lost revenue, according to varying estimates. Stitt has long pressed for reducing income taxes and reached a deal this year with the Republican-led Legislature to make it happen. The agreement includes a consolidation of income tax brackets and what Stitt has described as a "path to zero" income tax, with triggers meant to further reduce the tax rate in future years. While Stitt had opened the Legislative session in February by calling for a steeper half-point tax cut, he has still seemed pleased with landing a quarter-point cut. Talking about the tax cut deal during a news conference on Wednesday, May 28, Stitt said it would "automatically trigger tax cuts, not in an irresponsible way, but with excess revenue, we'll be able to trigger tax cuts and put us on a path to zero." The specifics of the cut are spelled out in House Bill 2764, which Stitt signed on Wednesday. By law, the Legislature has until Friday to finish its regular session business. Critics have questioned whether lawmakers should reduce tax collections — and also dip into savings to cover some line items in the state's nearly $12.6 billion budget for the next fiscal year — at a time of economic uncertainty. More: Gov. Stitt, legislative leaders announce budget deal including tax cuts, tort reforms According to an analysis by the Oklahoma Policy Institute, a nonpartisan Tulsa-based think tank, cutting income taxes by a quarter of a percentage point would reduce state revenues by $306 million annually. The group's analysis also showed many Oklahomans stand to save only marginal amount on their annual income tax bill. A quarter-point cut could save people who make $79,700 or less between $9 and $95, and would save those in the top 1% of incomes — making $683,500 or more — $2,936 annually, the group found. Stitt has said the cut will help out struggling families and cost the state about $160 million in lost revenue during the next fiscal year, citing Oklahoma Tax Commission numbers. Stitt has maintained because that money is spent by taxpayers, not state government, it's better for the economy. The tax cut bill passed by margins of 74-19 in the House and 34-11 in the Senate, largely along party lines. This article originally appeared on Oklahoman: Oklahoma Gov. Stitt signs income tax cut bill: What you should know
Yahoo
21-05-2025
- Politics
- Yahoo
Bill putting restrictions on petition process heads to Oklahoma governor
Gov. Kevin Stitt laughs when answering a question during a press conference on Wednesday, May 21, 2025. (Photo by Janelle Stecklein/Oklahoma Voice) OKLAHOMA CITY – The Oklahoma Senate on Wednesday sent Gov. Kevin Stitt a measure that would make it more difficult for residents to put things on the ballot. Critics said the measure is an unconstitutional legislative power grab, while supporters said it is necessary to ensure more input from rural counties and prevent fraud. Currently, state law requires 97,263 signatures to get statutory changes before the voters and 172,993 for constitutional amendments. There are no restrictions on where the signatures are collected. But Senate Bill 1027 would put limits on how many signatures could come from counties. For a statute change, no more than 11.5% of votes cast in the most recent gubernatorial election could come from a single county. That signature threshold increases to 20.8% for a constitutional amendment. 'This forces them out to 18 to 20 different counties,' said Sen. David Bullard, R-Durant, the bill's author. 'It doesn't even force them out to all 77 counties. We're just asking that you go to 18 to 20 different counties to gather these signatures and get various opinions on whether or not this is something you want to do.' Oklahoma has more than 2.3 million registered voters, of which 1.15 million voters cast ballots for governor in the 2022 general election, according to the Tulsa-based Oklahoma Policy Institute. The bill's requirements would exclude 2.2 million registered voters, or 94.4% of them, from signing a petition for statutory changes, according to the organization. It would exclude 2.1 million registered voters , or 89.8% of them, from signing a petition for constitutional amendments, according to the organization. The measure would prohibit the payment to circulators based on the number of signatures collected. It would require sources of payment to circulators to be disclosed and bar out of state interests from donating. Bullard asked why Oklahomans would want 'massive liberal organizations coming in here and shoving this stuff down your throat.' It would require petition circulators to be registered Oklahoma voters. Finally, it would require a political appointee, the Secretary of State, to approve the gist, the brief summary of the ballot measure that voters see at the top of the signature sheet. Critics say the process has been used to get needed reforms on the ballot, such as Medicaid expansion, medical marijuana legalization and criminal justice reform, when lawmakers declined to act. The bill will 'suppress and subvert what we used to know as democracy,' said Sen. Regina Goodwin, D-Tulsa. Sen. Mark Mann, D-Oklahoma City, called the measure 'a power grab.' 'It takes power away from everyday Oklahoma voters,' he said 'It silences the voice of everyday citizens.' Mann said the bill is likely unconstitutional and violates a U.S. Supreme Court ruling that says out-of-state money from corporations can be spent on elections and ballot initiatives. He said the artificial signature cap also discriminates against voters in Oklahoma and Tulsa counties, whose residents combined make up 40% of the state's population, but can comprise only 23% of the total signatures collected. 'It violates the one person one vote principle,' he said.' Senate Minority Leader Julia Kirt, D-Oklahoma City, said the measure establishes barriers that make it nearly impossible to get issues on the ballot. Bullard said the state Constitution says laws shall prevent corruption in the referendum process. 'Let me be very clear,' Bullard said. 'If you are willing to go to two or three counties to gather those signatures and completely willing to completely ignore 97.5% of the state counties, that's corruption.' The measure passed by a vote of 39-7. Stitt said Wednesday that he will review the measure before deciding whether to sign it. He said it is easier to get something on the ballot in Oklahoma than in other states, and lawmakers are trying to find a balance. It would become effective immediately with Stitt's signature. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX SUPPORT: YOU MAKE OUR WORK POSSIBLE
