secwatch / observer
8-K filed December 8, 2025, 6:59 PM ET ticker FRST CIK 0001325670
other material confidence high sentiment positive materiality 0.80

Primis Financial sale-leaseback of 18 branches expects $50M pre-tax gain, 13.2% TBV accretion

Primis Financial Corp.

item 1.01item 2.03item 7.01item 9.01

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JSON Markdown Plain text

Source-grounded claims

cb1cee8b3627159d3d5c330ec9fc486e579df834

Primis Financial Corp. incurred lease obligation of $4.7 million per annum with FNLR Mud LLC maturing 20 years.

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

SEC 8-K Item 2.03/2.04 confidence 0.9 SEC evidence

Comparable filings

BNC

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CEA Industries Inc. May 6, 2026, 7:59 PM ET other_material Items 1.01, 2.03, 5.02, 7.01, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 7.01, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

On April 30, 2026, the parties to the Loan Agreement agreed to a loan request for 10 million USDC at a loan fee amount of 9.5% per annum and an initial maturity date of October 30, 2026, with option to renew for additional 6-month terms on a rolling basis.

Filing page SEC filing

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Track Group, Inc. May 4, 2026, 7:59 PM ET other_material Items 1.01, 5.02, 2.03, 3.02, 5.03, 7.01, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 7.01, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

On April 30, 2026, the Company and certain subsidiaries of the Company (together with the Company, collectively, the “ Borrowers ”) entered into a Credit Agreement (the “ Credit Agreement ”) by and among the Borrowers, the lenders from time to time party thereto (the “ Lenders ”), and Chatham Capital Management, LLC, as administrative agent for the Lenders (the “ Administrative Agent ”). Pursuant to the Credit Agreement, the Lenders extended a credit facility in the maximum aggregate principal amount of $24.0 million, consisting of (a) a term loan (the “ Term Loan ”) in the principal amount of $21.0 million, which was funded in full on April 30, 2026, (b) a revolving line of credit in the principal amount of $2.0 million and (c) an interest line loan facility (the “ Interest Line Loan Facility ”) in the principal amount of $1.0 million.

Filing page SEC filing

MSPR

MSP Recovery secures $275K in discretionary advances from Hazel and Virage; appoints CRO amid liquidity strain

MSP Recovery, Inc. May 6, 2026, 7:59 PM ET other_material Items 1.01, 2.03, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

On May 1, 2026, MSP Recovery, Inc. (the “Company”), through its subsidiaries, entered into a letter agreement with Hazel Partners Holdings LLC (“Hazel”), in its capacity as administrative agent and lender under the Company’s existing working capital credit facility (the “Hazel Letter Agreement”) to provide $0.1 million to be used primarily for operating expenses.

Filing page SEC filing

PS

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PERSHING SQUARE INC. May 1, 2026, 7:59 PM ET other_material Items 1.01, 2.03, 3.02, 8.01, 5.02, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

on April 30, 2026, the Company and a syndicate of banks, led by Bank of America, N.A., as administrative agent, entered into a credit agreement (the “ Credit Agreement ”). The Credit Agreement consists of (i) a senior secured revolving credit facility (the “ Revolving Facility ”) in an aggregate principal amount of $250,000,000 and (ii) a senior secured term loan facility in an aggregate principal amount of $100,000,000

Filing page SEC filing

OLOX

Subsidiary SG Echo LLC files Chapter 11; Olenox continues normal operations

OLENOX INDUSTRIES INC. May 4, 2026, 7:59 PM ET other_material Items 1.03, 2.04, 7.01, 9.01

same fact type: debt_financing same SEC item: 7.01, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

The filing of the Chapter 11 Case constitutes an event of default that accelerated obligations under the following material debt instruments and agreements: (i) approximately $4 million (plus any accrued but unpaid interest in respect thereof) under that certain Loan and Security Agreement between SG Echo, LLC and Enhanced Capital Oklahoma Rural Fund, LLC, dated as of September 20, 2024 (the “Enhanced Loan Agreement”).

Filing page SEC filing

Ares Core Infrastructure Fund

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same fact type: debt_financing same SEC item: 2.03, 9.01 same event type: other_material similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

On April 28, 2026, in connection with an investment in a portfolio company, Ares Core Infrastructure Fund (the “Fund”) acquired two wholly owned indirect subsidiaries, BCP Renaissance Parent L.L.C. (the “Rover Borrower”) and BCP Renaissance, L.L.C. (the “ Rover Borrower Subsidiary”), who are parties to a Credit Agreement, dated as of October 31, 2017 (as amended, the “Rover Credit Agreement”).

Filing page SEC filing

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OCEANFIRST FINANCIAL CORP June 1, 2026, 5:19 PM ET m_and_a Items 1.01, 3.02, 2.01, 2.03, 3.03, 5.02, 5.03, 7.01, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 7.01, 9.01 similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

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Filing page SEC filing

Enviri II Corp

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Enviri II Corp June 1, 2026, 5:18 PM ET m_and_a Items 1.01, 2.03, 3.03, 5.03, 5.01, 5.02, 5.05, 7.01, 9.01

same fact type: debt_financing same SEC item: 1.01, 2.03, 7.01, 9.01 similar materiality

This filing

Concurrent with the closing, Seller and FNLR Mud LLC, a Delaware limited liability company ("Landlord"), entered into a master lease agreement (the "Lease Agreement") for the Properties under which Seller, as tenant, will lease each of the Properties from Landlord. The initial lease term shall be 20 years, which may be extended, at the Bank's option, for an additional 20 year term. The Lease Agreement shall constitute a triple net lease under which the Bank as tenant shall be responsible for base rent for each of the Properties, which during the initial term shall be, in the aggregate, $4.7 million per annum ("Base Rent") plus additional operational charges.

Comparable filing

The Credit Agreement provides for (i) a revolving credit facility in an aggregate principal amount of $152.0 million (such facility, the “Revolving Credit Facility”)

Filing page SEC filing

Source: SEC EDGAR
accession 0001104659-25-119089
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