Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
GENERATION INCOME PROPERTIES, INC. entered into Amended and Restated Limited Liability Company Agreements for GIPVA 2510 Walmer Ave, LLC and GIPVA 130 Corporate Blvd, LLC with Brown Family Enterprises, LLC valued at Issuance of 180,000 Class A Preferred Units at $10.00 per unit ($1,800,000) and 120,000 Class A Pref (effective 2023-02-08).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Brown Family Enterprises, LLC
- Value
- Issuance of 180,000 Class A Preferred Units at $10.00 per unit ($1,800,000) and 120,000 Class A Pref
- Effective
- 2023-02-08
Exact text from the filing
On February 8, 2023, Generation Income Properties L.P. (the “Operating Partnership”), the operating partnership of Generation Income Properties, Inc. (the “Company”), entered into new Amended and Restated Limited Liability Company Agreements for each of GIPVA 2510 Walmer Ave, LLC ("GIPVA 2510") and GIPVA 130 Corporate Blvd, LLC ("GIPVA 130") in which the Operating Partnership, as the sole member of GIPVA 2510 and GIPVA 130, admitted a new member, Brown Family Enterprises, LLC (the "Purchaser"), through the issuance to Purchaser of membership interests in the form of Class A Preferred Units of GIPVA 2510 and GIPVA 130.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
GENERATION INCOME PROPERTIES, INC. entered into Unit Purchase Agreements for GIPVA 2510 Walmer Ave, LLC and GIPVA 130 Corporate Blvd, LLC with Brown Family Enterprises, LLC valued at Issuance to Purchaser of 180,000 Class A Preferred Units at $10.00 per unit for $1,800,000 and 120,0 (effective 2023-02-08).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Brown Family Enterprises, LLC
- Value
- Issuance to Purchaser of 180,000 Class A Preferred Units at $10.00 per unit for $1,800,000 and 120,0
- Effective
- 2023-02-08
Exact text from the filing
Also on February 8, 2023, both of the Virginia SPEs and the Purchaser entered into Unit Purchase Agreements in which GIPVA 2510 issued and sold to the Purchaser 180,000 Class A Preferred Units at a price of $10.00 per unit for an aggregate price of $1,800,000, and GIPVA 130 issued and sold to the Purchaser 120,000 Class A Preferred units at a price of $10.00 per unit for an aggregate price of $1,200,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
GENERATION INCOME PROPERTIES, INC. amended Unit Issuance Agreement and Amendment to Contribution and Subscription Agreement with LMB Owenton I LLC valued at Delay of Contributor's redemption right until third anniversary (January 14, 2025) at reduced price (effective 2023-02-07).
- Action
- amendment
- Agreement
- equity purchase
- Counterparty
- LMB Owenton I LLC
- Value
- Delay of Contributor's redemption right until third anniversary (January 14, 2025) at reduced price
- Effective
- 2023-02-07
Exact text from the filing
O n February 7, 2023, the Operating Partnership entered into a Unit Issuance Agreement and Amendment to Contribution and Subscription Agreement (the "LMB Agreement") with LMB Owenton I LLC, the contributor of the Company’s Tampa Starbucks property located at 10002 N Dale Mabry (the “Contributor”), in which GIPLP and the Contributor agreed to delay the Contributor’s right to require the redemption of the Contributor’s common units in the Operating Partnership until the third anniversary of the closing of the contribution of the Tampa Starbucks property, January 14 th 2025, and for a reduced redemption price of $7.15 per common unit.
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