---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-069440"
form_type: "8-K"
ticker: "SMA"
cik: "0001585389"
company_name: "SmartStop Self Storage REIT, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-21T23:39:04.066193+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# SmartStop Board rejects MacKenzie mini-tender at $20/share, 45% below market

## Summary
- MacKenzie offers $20 post-split ($5 pre-split) for up to 300k shares; May 12 close was $36.53.
- Board unanimously recommends ignoring offer, citing price over 45% below market and lack of disclosure.
- Class A and T shares convert to listed class on Oct 1, 2025, enabling open-market sales.
- Offer is ~1.2% of outstanding shares, a mini-tender; SEC warns of heightened risk.
- MacKenzie has made two prior similar offers; company cannot verify tender funds.

## SEC filing metadata
- accession: 0000950170-25-069440
- form_type: 8-K
- ticker: SMA
- cik: 0001585389
- company_name: SmartStop Self Storage REIT, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1585389/000095017025069440/0000950170-25-069440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1585389/000095017025069440/ck0001585389-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-069440
- JSON: https://secwatch.observer/filing/0000950170-25-069440.json
- Plain text: https://secwatch.observer/filing/0000950170-25-069440.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.