other material
confidence high
sentiment neutral
materiality 0.30
Franklin BSP Realty Trust establishes $200M ATM program; no current intention to use
Franklin BSP Realty Trust, Inc.
- ATM program allows sale of up to $200M of common stock through multiple agents.
- Company states it does not presently intend to utilize the ATM given current market conditions.
- ATM supplements existing $65M share repurchase program for capital flexibility.
- Commissions to agents capped at 2.0% of gross proceeds from shares sold.
- Program expires November 12, 2024 or upon sale of all shares, whichever comes first.