Goldman Sachs affiliate commits $100M investment in non-voting common stock of real estate finance trust

Goldman Sachs Real Estate Finance Trust Inc

GS Fund Holdings to purchase $100M of non-voting common stock in $25M tranches tied to NAV milestones of $500M, $750M, and $1B.
Third Articles of Amendment filed to create 10M shares of non-voting common stock; identical to voting shares except no voting rights.
Goldman Sachs must hold shares until NAV reaches $1.5B or three years after initial closing, then may request quarterly repurchases subject to cap.
Repurchase plan amended: shares from adviser or affiliates are not eligible for repurchase; other affiliate shares require committee approval.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Goldman Sachs Real Estate Finance Trust Inc: Designated 10,000,000 shares of common stock as non-voting common stock and made conforming charter changes (effective 2024-10-03).

Change: charter amendment
Effective: 2024-10-03

Exact text from the filing

On October 4, 2024, in connection with the Goldman Sachs Investment, the Company filed the Third Articles of Amendment and Restatement, dated October 3, 2024 (the “Third Articles of Amendment and Restatement”) with the Maryland State Department of Assessments and Taxation (“SDAT”) to designate 10,000,000 shares of the Company’s common stock as non-voting common stock, par value $0.01 per share, as well as make conforming changes to reflect this designation throughout the charter.

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Source: SEC EDGAR

accession 0001193125-24-233724

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