secwatch.observer — SEC 8-K summary
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Issuer:     Strategic Student & Senior Housing Trust, Inc. (STSR)
CIK:        0001698538
Form:       8-K
Filed at:   2022-11-03T23:59:59+00:00
Accession:  0000950170-22-021788
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Extends KeyBank bridge loan maturity to Apr 2024; replaces LIBOR with SOFR
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- Extended maturity of ~$26.4M KeyBank bridge loans from Apr 2023 to Apr 2024.
- Paid extension fee of 0.35% of outstanding balance (~$92,400).
- Replaced LIBOR with SOFR as interest rate benchmark; SOFR margin set at 4.00%.
- Added quarterly Total Collateral Ratio >=1.20x and EXR Collateral Ratio >=1.00x covenants.
- Partial release of certain equity interests from collateral; cure period of 10 business days if ratios breached.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698538/000095017022021788/0000950170-22-021788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698538/000095017022021788/sssht-20221028.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-021788

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