secwatch.observer — SEC 8-K summary
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Issuer:     Seritage Growth Properties (SRG)
CIK:        0001628063
Form:       8-K
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0000950170-24-057882
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Seritage Q1 net loss $20.2M; sold $80M assets YTD, repaid $80M debt
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- Net loss of $20.2M ($0.36 diluted EPS) in Q1 2024; Total NOI of $2.1M.
- Sold $48.8M in Q1 and $31.8M after quarter end; $80M total YTD.
- Repaid $30M on term loan in Q1 and $50M after quarter end; balance now $280M.
- Cash on hand $130.8M at March 31; $102.4M at May 7, 2024.
- No common dividends expected until term loan repaid; preferred dividend of $0.4375 declared.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1628063/000095017024057882/0000950170-24-057882-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1628063/000095017024057882/srg-20240510.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-057882

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