May 21, 2009 (FinancialWire) — Aerosonic Corp. (AMEX: AIM) (Current Market Cap: US$11.29 Mil.) said it has entered into three unsecured loan agreements for up to $2 million in principal amount in the aggregate, with attached warrants.

The $2 million in principal amount of the loans available to the company are represented by three separate 14% unsecured subordinated notes issued to three Aerosonic stockholders, Bruce J. Stone, Redmond Family Investments and Martin L. Schaffel.

According to Aerosonic, the deal allows the company to be able to draw down upon the loans on a pro rata basis, with each of the subordinated notes are payable in full on or before April 10, 2010. Upon each cash draw down, Aerosonic will be required to issue common stock and warrants to the investors.

Clearwater, Florida-based Aerosonic is principally engaged in the manufacture of aviation products. The company is a supplier of precision flight products for commercial, business and military aircraft

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