debt
confidence high
sentiment positive
materiality 0.60
MacKenzie Realty Capital, Inc. (MKZR): debt financing — MacKenzie Realty secures $1M loan to buy CHP shares at $4.55, target $6.90
MacKenzie Realty Capital, Inc.
- Net $1M loan from Streeterville Capital; principal $1.095M with $90k OID and $5k transaction fees.
- Proceeds used to purchase ~$1M of CNL Healthcare (CHP) shares at $4.55 per share.
- CHP expected to close merger with SNDA this month at ~$6.90 per share, yielding profit.
- Note secured by first-position security interest in MRC QRS assets and stock pledge of MRC QRS common stock.
- Prepayment allowed: 107% of principal if within 90 days, 100% thereafter; monitoring fee after 90 days.