secwatch.observer — SEC 8-K summary
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Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2024-01-03T23:59:59+00:00
Accession:  0001437749-24-000422
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gyrodyne secures $1.5M term mortgage loan for working capital
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- Principal $1.5M from LLYR Resources, LLC; two-year term, floating rate at 1.5% above Wall Street Prime Rate.
- Loan secured by first mortgages on Cortlandt Manor, NY properties (1989 & 1987 Crompond Rd; 206 Buttonwood Ave & vacant land).
- Company unconditionally guarantees the loan; net proceeds used for general working capital.
- Interest payable monthly; loan may be prepaid in whole or in part without prepayment fee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774924000422/0001437749-24-000422-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774924000422/gyrllc20240103_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-000422

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