GAMG secures $10M senior secured convertible note facility with Leonite Fund I for real estate acquisitions

Global Asset Management Group, Inc.

Facility: $10M purchase price, $10.81M principal with OID; senior secured, convertible at $0.95 fixed price.
Proceeds for multifamily real estate equity and working capital; tranches at Leonite's discretion.
Interest: Prime + 5.25% (floor 12%); maturity 12 months per tranche, max 24 months from issue.
Prepayment at 102% of outstanding principal plus interest; Holder can convert, subject to 4.99% beneficial ownership cap.
Part of GAMG's expansion of DC real estate portfolio and in-house asset management capabilities.

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