Does anyone know why they borrowed 4 million in 2009 when they had 15 mil in cash just sitting around at year end? I looked through the 10-K but couldn't find any info. I like UFPT but I'm a bit concerned about how they're managing their cash. Thanks for any assistance!
Can you link to the sec filing of the loan? I don't remember this loan and I wouldn't mind finding out the use of the money either.
Ideas off the top of my head are the fact that credit became nearly impossible to obtain and $4M was a substantial amount compared to market cap at the time and they were unsure when they would be able to obtain another loan (wanted more liquidity). They also acquired 2 or 3 smaller companies in 2009 for about the same amount in addition to the Stephenson acquisition.