Trinity Place Holdings Inc. (TPHS): debt financing — Trinity Place Holdings ups loan by $5M, issues 750K shares to lender in credit amendment

Trinity Place Holdings Inc.

Loan facility increased by up to $5M: $3M for corporate purposes, $2M for 11th Street Property.
Interest rate on loan increased by 0.20%.
Company to issue 750K shares of common stock to TPHS Lender LLC; warrant coverage reduced by 750K shares.
Revised covenants: lender consent needed for refinancing of 11th Street and Paramus properties; strategic review meeting required by June 30, 2023.
Ability to incur certain debt, make investments, and pay restricted payments removed or restricted.

item 1.01 item 2.03 item 3.02

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Trinity Place Holdings Inc. amended credit facility of up to $5,000,000 with TPHS Lender LLC at increased by 0.20%.

Instrument: credit facility
Principal: up to $5,000,000
Counterparty: TPHS Lender LLC
Rate: increased by 0.20%
Event: amendment

Exact text from the filing

y and between the Company, as borrower, certain subsidiaries of the Company as guarantors, and TPHS Lender LLC, as initial lender (the “CCF Lender”) and as administrative agent.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Trinity Place Holdings Inc. amended CCF Amendment with TPHS Lender LLC valued at up to $5,000,000 (effective 2023-06-09).

Action: amendment
Agreement: credit facility
Counterparty: TPHS Lender LLC
Value: up to $5,000,000
Effective: 2023-06-09

Exact text from the filing

On June 9, 2023, Trinity Place Holdings Inc. (the “Company”) entered into a seventh amendment (the “CCF Amendment”) to the Credit Agreement, dated as of December 19, 2019 (as amended, supplemented or otherwise modified from time to time prior to the date hereof, the “CCF”), by and between the Company, as borrower, certain subsidiaries of the Company as guarantors, and TPHS Lender LLC, as initial lender (the “CCF Lender”) and as administrative agent.

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73 debt financings filed in the last 30 days. Browse all debt financings →

Trinity Place Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-071630

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