secwatch.observer — SEC 8-K summary
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Issuer:     Star Holdings (STHO)
CIK:        0001953366
Form:       8-K
Filed at:   2026-10-09T20:01:25+00:00
Accession:  0001104659-26-115032
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Star Holdings amends Morgan Stanley margin loan: Safehold prepay trigger cut to $8.00, $15.8M draw terminated
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- Amendment No. 5 cuts the Share Price Trigger Threshold that forces mandatory prepayment of the margin loan from $10.00 to $8.00 on collateral shares of Safehold common stock.
- The delayed draw commitment of up to $15.8 million, undrawn as of the amendment, is terminated along with the borrower's unused delayed draw fee.
- Loan-to-value ratios that would require STAR SPV to post more collateral, or let it request a release of collateral, were also lowered.
- The Margin Loan Facility had about $46.5 million outstanding principal before the amendment and is secured by a first-priority pledge of Safehold shares held by Star Holdings.
- Lenders approved a one-time release of cash collateral (amount redacted under Item 601(b)(10)(iv)), applied per an agreed flow of funds on the October 9, 2026 effective date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1953366/000110465926115032/0001104659-26-115032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1953366/000110465926115032/tm2627336d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-115032

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