secwatch.observer — SEC 8-K summary
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Issuer:     Broad Street Realty, Inc. (BRST)
CIK:        0000764897
Form:       8-K
Filed at:   2022-09-06T23:59:59+00:00
Accession:  0000950170-22-018131
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broad Street Realty reinstates Midtown Row acquisition at $123.3M, extends closing to Nov 23
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- Purchase price increased from $122M to $123.3M, paid in cash and OP units (min $5M in units valued at $2/unit).
- Additional deposits: $250k cash, pledge of $324k development fee, and $1.25M reserve deposit upon release of lender reserves.
- Outside closing date extended to November 23, 2022; seller retains right to market property.
- Related parties: CEO Michael Jacoby, CFO Alexander Topchy, others have indirect ownership in seller; estimated $1.4M in OP units at closing.
- Preferred units issued: 12% annual distribution (5% cash, 7% PIK), convertible to common units; liquidation preference $2/unit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764897/000095017022018131/0000950170-22-018131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764897/000095017022018131/brst-20220901.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-018131

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer