VirTra, Inc — Form 10-Q
Filed August 13, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 48/100
What the filing says
VirTra, Inc. entered into a $4,000,000 promissory note with UMB Bank, n.a. dated May 15, 2026, maturing May 15, 2033. The loan carries a variable interest rate of Term SOFR plus 2.25% margin (initial rate 5.889%), with 84 monthly payments beginning June 15, 2026. The loan is secured by a first mortgage on real property in Orange County, Florida (2 acres at Central Florida Research Park, Orlando) and an assignment of leases and rents. The balloon payment due at maturity is $3,427,888.81. Cross-collateralization applies to other VirTra obligations with UMB.
Why this rating
$4M debt is 6.1% of VirTra's $65M market cap—material but routine financing. 7-year term provides liquidity; variable rate and cross-collateralization add risk. Operational impact modest without operational details disclosed.
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