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SUBSEQUENT EVENTS
12 Months Ended
Feb. 28, 2021
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

On April 16, 2021, Solitron Devices, Inc. (the "Company") closed on the acquisition of a facility and real estate located in West Palm Beach, Florida for a purchase price of $4,200,000.00 pursuant to the Commercial Contract entered into on March 1, 2021. In connection with the acquisition, the Company obtained mortgage financing from Bank of America, N.A. in the amount of $2,940,000 to fund that portion of the total purchase price. The Company expects to begin making the necessary improvements to the property acquired in order to completely relocate its manufacturing operations and corporate headquarters later in the calendar year.

On June 12, 2021, the SBA notified Bank of America that the Company’s application for complete forgiveness of its PPP loan was approved.