secwatch.observer — SEC 8-K summary
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Issuer:     Franklin BSP Realty Trust, Inc. (FBRT)
CIK:        0001562528
Form:       8-K
Filed at:   2022-10-14T23:59:59+00:00
Accession:  0001104659-22-108875
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exchanges 1,000 Series C Preferred for Series I; conversion extended to Jan 19, 2023
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- Entered exchange agreement with one holder to swap all 1,000 shares of Series C Convertible Preferred for equal number of Series I shares.
- Mandatory conversion date extended from October 19, 2022 to January 19, 2023; no other material term changes.
- Series I Preferred converts into 299.2 shares of common stock per share on Jan 19, 2023, or earlier at holder's option upon change of control.
- Exchange exempt from registration under Securities Act Section 3(a)(9); no consideration received by company.
- Board granted ownership limit exemptions to holder for Series I shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1562528/000110465922108875/0001104659-22-108875-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1562528/000110465922108875/tm2228229d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-108875

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