BRT Apartments enters into $40M at-the-market equity offering agreements; terminates prior agreements

BRT Apartments Corp.

Entered into equity distribution agreements with B. Riley, JMP, Raymond James for ATM offering of up to $40M.
Sales agents receive commission of up to 2.0% of gross sales price; expense reimbursement up to $35K.
Prior ATM agreements dated March 2022 terminated effective May 12, 2023.
Shares issued under existing shelf registration statement (Form S-3).
Company may suspend sales at any time; no obligation to sell any shares.

Key facts

Extracted from this filing and checked against the source text.

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

BRT Apartments Corp. entered into Sales Agreement with B. Riley Securities, Inc., JMP Securities LLC and Raymond James & Associates, Inc. valued at $40 million (effective 2023-05-12).

Action: entry
Agreement: atm program
Counterparty: B. Riley Securities, Inc., JMP Securities LLC and Raymond James & Associates, Inc.
Value: $40 million
Effective: 2023-05-12

Exact text from the filing

On May 12, 2023, we entered into separate Equity Distribution Agreements (each, a “Sales Agreement” and collectively, the “Sales Agreements”) with the Sales Agents (as defined), to sell shares of our common stock, par value $0.01 per share, (the “Shares”) having an aggregate sales price of up to $40 million, from time to time, through an “at the market” equity offering program under which B. Riley Securities, Inc., JMP Securities LLC and Raymond James & Associates, Inc., will each act as sales agent

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

BRT Apartments Corp. terminated a atm program with Raymond James & Associates, Inc., B. Riley Securities, Inc. and JMP Securities LLC (effective 2023-05-12).

Action: termination
Agreement: atm program
Counterparty: Raymond James & Associates, Inc., B. Riley Securities, Inc. and JMP Securities LLC
Effective: 2023-05-12

Exact text from the filing

Effective as of May 12, 2023, we terminated the equity distribution agreements dated March 18, 2022 between us and each of Raymond James & Associates, Inc., B. Riley Securities, Inc. and JMP Securities LLC

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269 material agreements filed in the last 30 days. Browse all material agreements →

BRT Apartments Corp. filing history →

Source: SEC EDGAR

accession 0001140361-23-024391

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