secwatch.observer — SEC 8-K summary
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Issuer:     Safehold Inc. (SAFE)
CIK:        0001095651
Form:       8-K
Filed at:   2023-04-04T23:59:59+00:00
Accession:  0001104659-23-041210
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 1.02, 2.01, 2.03, 8.01, 3.03, 5.01, 5.02, 5.03, 5.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safehold completes merger with Old SAFE and spin-off of legacy assets into Star Holdings
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- Old SAFE merged into iStar Inc.; surviving entity renamed Safehold Inc. effective March 31, 2023.
- Legacy assets spun off into Star Holdings via Separation and Distribution Agreement; SpinCo received 13,522,651 shares of New SAFE common stock and at least $50M cash.
- Safehold assumed $750M aggregate principal of outstanding senior notes (2.800% 2031 and 2.850% 2032) and a $475M 3.98% 2052 private placement.
- New $500M revolving credit facility (2023 Credit Agreement) matures July 2025; existing $1.35B revolver matures March 2024 with extension options.
- MSD Partners purchased 5.4M shares at $37/share ($200M) and received board observer rights, top-up rights, and registration rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1095651/000110465923041210/0001104659-23-041210-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1095651/000110465923041210/tm2310731d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-041210

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