secwatch.observer — SEC 8-K summary
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Issuer:     MANHATTAN BRIDGE CAPITAL, INC (LOAN)
CIK:        0001080340
Form:       8-K
Filed at:   2023-02-03T23:59:59+00:00
Accession:  0001493152-23-003560
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Manhattan Bridge Capital amends credit line: maturity extended to 2026, loan limits raised
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- Extended $32.5M credit line maturity by three years to February 28, 2026.
- Transitioned benchmark from LIBOR to SOFR; adjusted margins for Base Rate and SOFR loans.
- Increased individual loan limit from $2M to $3M and mortgagor concentration limit from $5M to $6M.
- Eliminated requirement to pledge additional mortgage loans of $2.5M as collateral.
- Capped personal guaranty by CEO Assaf Ran at $1M plus enforcement costs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1080340/000149315223003560/0001493152-23-003560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1080340/000149315223003560/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-003560

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer