secwatch.observer — SEC 8-K summary
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Issuer:     Mobile Infrastructure Corp (BEEP)
CIK:        0001847874
Form:       8-K
Filed at:   2024-03-05T23:59:59+00:00
Accession:  0001493152-24-008900
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mobile Infrastructure extends credit facility to June 2025; interest rate steps up after Oct 2024
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- Maturity extended to June 30, 2025 with two six-month extension options ending Oct 1, 2024 and Apr 1, 2025.
- Applicable SOFR rate rises from 3.0% to 3.5% after Oct 1, 2024 and to 4.0% after Apr 1, 2025.
- Borrower must prepay 100% of net proceeds from equity offerings, asset sales, or refinancings (Capital Events).
- Equity pledgor (Mobile Infra Holdings) pledges all interests in Clarksburg, Clybourn, Milwaukee Old World properties as additional collateral.
- Borrower required to work diligently to refinance the Streeter Property in Chicago.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1847874/000149315224008900/0001493152-24-008900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1847874/000149315224008900/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-008900

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