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Strawberry Fields REIT, Inc. (NYSE American:STRW) announced Wednesday that it has raised approximately $87.6 million, net of fees, through the issuance of its Series B Bonds. The offering was registered and conducted exclusively in Israel, with the bonds trading on the Tel Aviv Stock Exchange, according to a press release statement based on the company’s Form 8-K filing with the Securities and Exchange Commission.
The company is required to make four principal reduction payments on the bonds, scheduled for June 30 of each year from 2026 through 2029. The first three payments will each represent 4% of the total principal, while the final payment in 2029 will account for the remaining 88%. Interest on the bonds is set at an annual rate of 6.70% and will be paid on December 31, 2025, and on June 30 and December 31 of each year from 2026 through 2028, with a final payment on June 30, 2029. According to InvestingPro, the company maintains a GREAT financial health score, suggesting strong debt management capabilities.
Strawberry Fields REIT stated that it intends to use the net proceeds from the bond issuance for ongoing operations and general corporate purposes, including the repayment of existing bank debts and the acquisition of properties.
The company is incorporated in Maryland and is listed on the NYSE American under the ticker STRW.
In other recent news, Strawberry Fields REIT, Inc. has expanded its At Market Issuance Sales Agreement to $50 million. This development was reported in a recent SEC filing, where the company announced the inclusion of Wedbush Securities Inc. alongside existing partners B. Riley Securities, Inc. and A.G.P./Alliance Global Partners (NYSE:GLP). The original agreement, dated July 11, 2024, has been amended to increase the offering of common stock shares. A Prospectus Supplement No. 1 was filed with the SEC to reflect this expansion, following the company’s registration statement on Form S-3 from July 25, 2024. The legal opinion on the validity of these shares is provided by Shapiro Sher Guinot & Sandler, P.A. This move is part of Strawberry Fields REIT’s strategy to strengthen its financial position by capitalizing on market opportunities. The details were disclosed in a press release statement included in an 8-K filing with the SEC.
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