Greystone Housing Issues 500,000 Series B Preferred Units for $5M at 5.75% Distribution Rate

Greystone Housing Impact Investors LP

Issued 500,000 Series B Preferred Units to Texas Capital Community Development Corp for $5,000,000.
Series B Preferred Units carry a fixed annual distribution rate of 5.75%, non-cumulative and non-convertible.
Earliest redemption date is February 2030; proceeds to acquire mortgage revenue bonds for affordable housing.
Second issuance of Series B Preferred Units; total shelf capacity remains up to 10,000,000 units.

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 Texas Capital Community Development Corporation valued at $5,000,000 (effective 2024-02-02).

Action: entry
Agreement: equity purchase
Counterparty: Texas Capital Community Development Corporation
Value: $5,000,000
Effective: 2024-02-02

Exact text from the filing

On February 2, 2024, Greystone Housing Impact Investors LP (the “Partnership”) issued, under its existing “shelf” registration statement on Form S-3 (Reg. No. 333-259207), 500,000 Series B Preferred Units representing limited partnership interests in the Partnership (the “Series B Preferred Units”) to Texas Capital Community Development Corporation, which is an affiliate of Texas Capital Bank (the “Investor”), resulting in $5,000,000 in aggregate proceeds to the Partnership. The issuance of the Series B Preferred Units was effected pursuant to a subscription agreement entered into between the Partnership and the Investor dated as of February 2, 2024 (the “Subscription Agreement”).

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Greystone Housing Impact Investors LP filing history →

Source: SEC EDGAR

accession 0000950170-24-011557

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