Greystone Housing issues $10M Series A-1 Preferred Units to PNC Community Development

Greystone Housing Impact Investors LP

Issued 1,000,000 Series A-1 Preferred Units to PNC Community Development Company, LLC for $10M in proceeds.
Units are non-cumulative, non-convertible, non-voting; earliest optional redemption June 2029.
Proceeds to fund acquisition of mortgage revenue bonds for affordable multifamily, student, and senior housing.
Issuance under existing shelf registration permitting up to 3,500,000 Series A-1 units.
CEO notes the transaction provides low-cost, non-dilutive capital, bolstering liquidity in a rising-rate environment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Greystone Housing Impact Investors LP entered into Subscription Agreement with PNC Community Development Company, LLC valued at $10,000,000 (effective 2023-06-02).

Action: entry
Agreement: equity purchase
Counterparty: PNC Community Development Company, LLC
Value: $10,000,000
Effective: 2023-06-02

Exact text from the filing

On June 2, 2023, Greystone Housing Impact Investors LP (the “Partnership”) issued, under its existing “shelf” registration statement on Form S-3 (Reg. No. 333-259203), 1,000,000 Series A-1 Preferred Units to PNC Community Development Company, LLC (the “Investor”), resulting in $10,000,000 in aggregate proceeds to the Partnership. The issuance of the Series A-1 Preferred Units was effected pursuant to a subscription agreement entered into between the Partnership and the Investor dated as of June 2, 2023 (the “Subscription Agreement”).

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Greystone Housing Impact Investors LP filing history →

Source: SEC EDGAR

accession 0000950170-23-026386

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