secwatch.observer — SEC 8-K summary
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Issuer:     Trinity Place Holdings Inc. (TPHS)
CIK:        0000724742
Form:       8-K
Filed at:   2021-10-25T23:59:59+00:00
Accession:  0001104659-21-129270
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trinity Place completes $166.7M refinancing with Macquarie, $4.8M private placement, and announces rights offering
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- $166.7M inventory loan from Macquarie; 2-yr term +1-yr extension; interest LIBOR+7% (floor 7.25%), step-up to 9%+ if balance >$91M after Apr 2023.
- Private placement of 2,539,473 shares at $1.90 from MFP Partners and Third Avenue Management, raising $4.825M.
- Rights offering: record date Nov 3, 2021; rights to buy up to 2.65M shares at $1.90; CEO to subscribe for at least 52,631 shares.
- 77 Greenwich occupancy begun; school opening Sep 2022; blended interest rate ~115bps lower than prior construction loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/724742/000110465921129270/0001104659-21-129270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/724742/000110465921129270/tm2130844d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-129270

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer