Broad Street Realty extends loan maturity, adds $2M term loan at 6.75%, eases EBITDA covenant

Broad Street Realty, Inc.

Maturity of $4.5M term loan and $2M revolver extended to June 27, 2023 from Dec 27, 2022.
New $2M term loan at 6.75% fixed rate, matures June 27, 2023; advances available until Sept 22, 2022.
Required principal curtailments: $250K each by March 31, 2022, Sept 30, 2022, and March 31, 2023.
EBITDA to funded debt ratio minimum reduced from 8.0% to 7.0%; BSV Cromwell Land released as guarantor.
Exit fee of 2% of aggregate principal at maturity or prepayment.

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