Breeze Eastern Corporation

Hahn Loeser represented Breeze-Eastern Corporation (formerly TransTechnology Corporation) in the sale of $18.75 million of its common stock, or approximately 27% of its common equity, in a private placement with institutional investors. The closing took place within 30 days from the commencement of negotiations with the principal purchaser. The proceeds from the equity infusion allowed Breeze-Eastern to reflect positive stockholder equity on its balance sheet, and to restructure its corporate debt and enter into a new, lower-cost $50 million credit facility. This recapitalization was acknowledged as Middle Market Financing Deal of the Year - Manufacturing in June 2006 at a national conference sponsored by the M&A Advisor, a leading journal serving the investment banking industry.