secwatch.observer — SEC 8-K summary
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Issuer:     Strategic Storage Trust VI, Inc. (SGST)
CIK:        0001852575
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0000950170-23-017220
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Strategic Storage Trust VI issues $150M Series B Convertible Preferred to Extra Space Storage LP
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- Issued $150M of Series B Convertible Preferred Stock to Extra Space Storage LP at $1,000/share.
- Initial dividend rate 8.35% per annum, step-ups to max 11.0% after 5 years.
- Conversion price initially $11.00 per share, convertible into Class A Common Stock after 3 years or 180 days post-listing.
- Proceeds to be used for refinancing debt, redeeming Series A preferred units, acquisitions, and working capital.
- Investor granted registration rights; exemption from 9.8% ownership limit for the preferred and conversion shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1852575/000095017023017220/0000950170-23-017220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1852575/000095017023017220/sstvi-20230501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-017220

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