secwatch.observer — SEC 8-K summary
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Issuer:     ACRES Commercial Realty Corp. (ACR)
CIK:        0001332551
Form:       8-K
Filed at:   2022-02-03T23:59:59+00:00
Accession:  0001564590-22-003836
Event type: other
Sentiment:  neutral
Materiality: 0.20
Item codes: 2.03, 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ACRES extends note warrant deadline to July 2022; amends repo agreements for LIBOR transition
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- Amendment No. 1 with Oaktree and Mass Mutual extends the window to issue Additional Notes from Jan 31, 2022 to July 31, 2022.
- Morgan Stanley repo agreement amended to replace LIBOR with Term SOFR and add benchmark transition provisions, effective Jan 28, 2022.
- Barclays repo agreement amended to replace LIBOR with Term SOFR/SOFR Average and update eligibility criteria, effective Feb 3, 2022.
- No changes to financial terms, limits, or pricing were disclosed; amendments are procedural for benchmark transition.
- Both repo amendments are standard market practice for the LIBOR phase-out; no material impact on operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1332551/000156459022003836/0001564590-22-003836-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1332551/000156459022003836/acr-8k_20220128.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-003836

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