8-K
filed January 24, 2023, 6:59 PM ET
ticker NYC
CIK 0001595527
other material
confidence high
sentiment negative
materiality 0.75
American Strategic Investment Co. launches rights offering for up to 386,100 shares at $12.95, terminates REIT status
American Strategic Investment Co.
- Name changed from New York City REIT to American Strategic Investment Co., effective Jan 19, 2023, trading under symbol NYC.
- Board determined it is no longer in best interest to qualify as REIT; ownership restrictions lifted.
- Rights offering: 1 Right per share, each allows purchase of 0.20130805 shares at $12.95, up to 386,100 shares.
- B. Riley acting as dealer manager with 5% fee on gross proceeds (1% for Bellevue and affiliates).
- Subscription period: Jan 23 to Feb 22, 2023; rights non-transferable.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
American Strategic Investment Co.: Company changed its name from 'New York City REIT, Inc.' to 'American Strategic Investment Co.' via Articles of Amendment filed with MSDAT (effective 2023-01-19).
- Change
- charter amendment
- Effective
- 2023-01-19
Exact text from the filing
On January 18, 2023, the Company filed Articles of Amendment to its charter with the MSDAT in which the Company changed its name to “American Strategic Investment Co.” from “New York City REIT, Inc.” The name change became effective on January 19, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
American Strategic Investment Co. amended Second Amendment to the Waiver Agreement with Bellevue Capital Partners, LLC and New York City Advisors, LLC (the “Advisor”) (effective 2023-01-23).
- Action
- amendment
- Counterparty
- Bellevue Capital Partners, LLC and New York City Advisors, LLC (the “Advisor”)
- Effective
- 2023-01-23
Exact text from the filing
In addition, on January 23, 2023, the Company entered into the Second Amendment to the Waiver Agreement, dated February 4, 2022 (as amended by the First Amendment, dated August 10, 2022) with Bellevue and New York City Advisors, LLC (the “Advisor”) (the “Waiver Agreement”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
American Strategic Investment Co. entered into Dealer Manager Agreement with B. Riley Securities, Inc. (effective 2023-01-23).
- Action
- entry
- Agreement
- underwriting
- Counterparty
- B. Riley Securities, Inc.
- Effective
- 2023-01-23
Exact text from the filing
On January 23, 2023, American Strategic Investment Co. (the “Company”) and New York City Operating Partnership, L.P. entered into a dealer manager agreement (the “Dealer Manager Agreement”) with B. Riley Securities, Inc. (“B. Riley”) pursuant to which B. Riley is acting as dealer manager for the Rights Offering
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.7
American Strategic Investment Co. amended Rights Plan Waiver Agreement (effective 2023-01-23).
- Action
- amendment
- Effective
- 2023-01-23
Exact text from the filing
On January 23, 2023, the Company entered into Amendment No. 3 to the Amended and Restated Rights Agreement, dated August 17, 2020 (as amended by Amendment No. 1, dated August 12, 2021, and Amendment No. 2, dated August 10, 2022, as amended the “Rights Agreement”) (the “ Rights Plan Waiver Agreement”).
View on SEC.gov
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