MAYS J W INC Enters Loan Agreement
Ticker: MAYS · Form: 8-K · Filed: Apr 1, 2026 · CIK: 0000054187
| Field | Detail |
|---|---|
| Company | Mays J W INC (MAYS) |
| Form Type | 8-K |
| Filed Date | Apr 1, 2026 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1, $6,200,000, $48,068.53 b, $3,135,704 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financing, material-agreement
TL;DR
JWM Realty Corp just signed a loan agreement, expect new debt on the books.
AI Summary
On March 27, 2026, MAYS J W INC, through its subsidiary J.W.M REALTY CORP, entered into a material definitive agreement, specifically a loan agreement. This agreement creates a direct financial obligation for the registrant.
Why It Matters
This filing indicates the company is taking on new debt, which could impact its financial leverage and future investment capacity.
Risk Assessment
Risk Level: medium — Entering into a loan agreement signifies increased financial leverage and potential debt servicing obligations.
Key Players & Entities
- MAYS J W INC (company) — Filer
- J.W.M REALTY CORP (company) — Borrower in loan agreement
- March 27, 2026 (date) — Date of loan agreement
FAQ
What is the principal amount of the loan agreement?
The filing does not specify the principal amount of the loan agreement.
Who is the lender in this loan agreement?
The filing does not disclose the identity of the lender.
What are the key terms and conditions of the loan agreement?
The filing does not detail the specific terms and conditions of the loan agreement, only that it is a material definitive agreement.
What is the purpose of this loan?
The filing does not state the intended purpose for which the loan was obtained.
Are there any specific covenants or restrictions associated with this loan?
The filing does not provide information on any covenants or restrictions related to the loan agreement.
Filing Stats: 837 words · 3 min read · ~3 pages · Grade level 8.4 · Accepted 2026-04-01 09:05:30
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value MAYS NASDAQ Emerging grow
- $6,200,000 — Borrower borrowed a principal amount of $6,200,000 at a fixed interest rate of 7.00% per a
- $48,068.53 b — s required to make a monthly payment of $48,068.53 beginning on May 1, 2026 and shall make t
- $3,135,704 — ird year of the Loan. The Company used $3,135,704 of the net proceeds from the Loan to re
Filing Documents
- mays4614721-8k.htm (8-K) — 29KB
- mays4614721-ex101.htm (EX-10.1) — 9KB
- mays4614721-ex1011x10x1.jpg (GRAPHIC) — 411KB
- mays4614721-ex1011x11x1.jpg (GRAPHIC) — 489KB
- mays4614721-ex1011x1x1.jpg (GRAPHIC) — 625KB
- mays4614721-ex1011x2x1.jpg (GRAPHIC) — 684KB
- mays4614721-ex1011x3x1.jpg (GRAPHIC) — 685KB
- mays4614721-ex1011x4x1.jpg (GRAPHIC) — 659KB
- mays4614721-ex1011x5x1.jpg (GRAPHIC) — 537KB
- mays4614721-ex1011x6x1.jpg (GRAPHIC) — 482KB
- mays4614721-ex1011x7x1.jpg (GRAPHIC) — 710KB
- mays4614721-ex1011x8x1.jpg (GRAPHIC) — 743KB
- mays4614721-ex1011x9x1.jpg (GRAPHIC) — 753KB
- 0001206774-26-000174.txt ( ) — 9532KB
- mays-20260327.xsd (EX-101.SCH) — 3KB
- mays-20260327_lab.xml (EX-101.LAB) — 33KB
- mays-20260327_pre.xml (EX-101.PRE) — 22KB
- mays4614721-8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On March 27, 2026, J.W.M. Realty Corp., a wholly owned subsidiary (the " Borrower ") of J.W. Mays, Inc. (the " Company ") entered into a loan agreement with Putnam County National Bank of Carmel (the " Lender ") wherein the Borrower has obtained a loan secured by a first mortgage on its Circleville, Ohio property (the " Loan ") due and payable on April 1, 2031 (the " Term Date "). The Company has made an unconditional guarantee of all obligations and liabilities of the Borrower under the Loan. The Borrower borrowed a principal amount of $6,200,000 at a fixed interest rate of 7.00% per annum. The Borrower is required to make a monthly payment of $48,068.53 beginning on May 1, 2026 and shall make the same payment on each and every month thereafter until all the principal and interest is fully paid. Each payment shall first be applied to the interest due at the time, then the balance will be used for the repayment of any money advanced by the Lender for taxes, assessments or insurance and then to the amount borrowed. The Lender may, but is not obligated, to call the Loan any time after the Term Date and the Loan is payable, in full, on demand beginning on the Term Date. The Borrower is permitted to prepay any outstanding indebtedness; however, any prepayments of indebtedness are subject to a penalty fee equal to (i) 3% of the outstanding principal amount in the first year of the Loan, (ii) 2% of the outstanding principal amount in the second year of the Loan and (iii) 1% of the outstanding principal amount of the third year of the Loan. The Company used $3,135,704 of the net proceeds from the Loan to repay an existing secured loan with the Lender and the Company intends to use the remaining net proceeds for maintenance, repairs and onboarding of new tenants on various properties. The Company cannot be certain if and when such proceeds will be applied. Mr. Dean L. Ryder, a member of the Board of Directors of the
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 10.1 Loan Agreement, dated March 27, 2026, between J.W.M Realty Corp, as borrower, J.W. Mays, Inc., as guarantor and the Putnam County National Bank of Carmel, as lender. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. J. W. Mays, Inc. Dated: April 1, 2026 By: Ward Lyke, Jr. Ward N. Lyke, Jr. Vice President, Chief Financial Officer and Treasurer