secwatch.observer — SEC 8-K summary
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Issuer:     Gyrodyne, LLC (GYRO)
CIK:        0001589061
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0001437749-24-007209
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gyrodyne closes oversubscribed rights offering, raises $5M gross
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589061/000143774924007209/0001437749-24-007209-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589061/000143774924007209/gyrllc20240308_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-007209

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