Business Context and Reporting Period
This Form 8-K Current Report was filed by Benefit Street Partners Realty Trust, Inc. (Franklin BSP Realty Trust, Inc.) on December 5, 2019. The report details a corporate governance action involving the amendment of the Company's Articles of Incorporation.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on capital structure adjustments.
Material Changes
- Series A Preferred Stock Authorization: The Company increased the aggregate number of authorized shares of Series A Convertible Preferred Stock from 40,000 to 60,000.
- Outstanding Shares: As of December 6, 2019, approximately 40,495 shares of Series A Preferred Stock were issued and outstanding.
- Effective Date: The Articles Supplementary became effective immediately upon filing with the Maryland State Department of Assessments and Taxation.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The material terms of the Series A Preferred Stock are referenced from a prior Form 8-K filed on June 6, 2018.
Investor Verification Checklist
- Verify the specific terms of the Series A Convertible Preferred Stock in the June 6, 2018 Form 8-K referenced in this filing.
- Confirm the current number of outstanding shares (40,495) against the new authorized limit (60,000) to assess remaining issuance capacity.
- Review the Articles Supplementary (Exhibit 3.1) for any additional covenants or conditions attached to the increased authorization.