---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-007209"
form_type: "8-K"
ticker: "GYRO"
cik: "0001589061"
company_name: "Gyrodyne, LLC"
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:50:28.236085+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Gyrodyne closes oversubscribed rights offering, raises $5M gross

## Summary
- Gross proceeds of $5M from sale of 625,000 shares at $8 per share; net proceeds ~$4.4M.
- Rights offering oversubscribed by ~65% (1,031,640 total shares subscribed vs 625,000 offered).
- Basic subscriptions 353,164; over-subscription shares 271,836 allocated pro rata at ~40% of requests.
- Net proceeds to fund liquidation process, defend Article 78 proceeding, and pay activist-related legal fees.
- Shares issued in uncertificated book-entry form.

## SEC filing metadata
- accession: 0001437749-24-007209
- form_type: 8-K
- ticker: GYRO
- cik: 0001589061
- company_name: Gyrodyne, LLC
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589061/000143774924007209/0001437749-24-007209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589061/000143774924007209/gyrllc20240308_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-007209
- JSON: https://secwatch.observer/filing/0001437749-24-007209.json
- Plain text: https://secwatch.observer/filing/0001437749-24-007209.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.