other_material
confidence high
sentiment positive
materiality 0.60
SST VI raises up to $35M via Series D preferred units sold to SmartStop affiliate
Strategic Storage Trust VI, Inc.
- Initial issuance of 200,000 Series D Preferred Units for $5M on Sept 4, 2025; total capacity up to 1.4M units for $35M.
- Distributions: 6% annum for first 2 years, stepping to 7% (yr3), 8% (yr4), 9% thereafter, payable monthly.
- Proceeds to be used for debt repayment (including sponsor), development pipelines, and working capital.
- Series D Preferred Units rank senior to common units, on parity with certain others, junior to Series B Preferred.
- Operating Partnership may redeem after 2nd anniversary at 100% of liquidation preference plus accrued distributions.
item 1.01item 9.01