other material
confidence high
sentiment neutral
materiality 0.50
Overland Advantage raises $1.55M via private placement of 12% Series A Preferred Shares
Overland Advantage
- Sold 515 shares of 12.0% Series A Cumulative Preferred Shares at $3,000 per share to accredited investors; gross proceeds ~$1.545M.
- 12% cumulative dividend payable semi-annually; shares senior to common, parity with other preferred.
- Redemption at Company's option after 2 years at $3,000 plus accrued dividends plus $300 premium; no conversion.
- Board designated Terri Lecamp and Neil H. Sherman as Preferred Trustees; holders elect two trustees separately.
- Shares sold under Section 4(a)(2) and Rule 506; restricted securities; fees of $20K + 5% of equity paid to REIT Funding.