Business Context and Reporting Period
This Form 8-K was filed by Benefit Street Partners Realty Trust, Inc. (also referred to as Franklin BSP Realty Trust, Inc.) on June 22, 2018. The report details a corporate governance action involving the classification and designation of new equity securities.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on capital structure changes.
- Preferred Stock Authorized: 20,000 shares of Series A convertible preferred stock ($0.01 par value).
- Preferred Stock Outstanding: Approximately 2,255 shares as of June 26, 2018.
Material Changes
On June 22, 2018, the Company filed Articles Supplementary with the Maryland State Department of Assessments and Taxation. This action formally classified and designated the 20,000 shares of Series A convertible preferred stock. The Articles Supplementary became effective immediately upon filing.
Guidance, Outlook, and Risks
The filing does not contain management commentary, financial guidance, or outlook for future periods. It references a prior Form 8-K filed on June 6, 2018, for a summary of the material terms of the Preferred Stock. No specific risks or contingencies are detailed in this text beyond the standard incorporation of exhibits.
Investor Verification Checklist
- Verify the specific terms of the Series A convertible preferred stock in the Form 8-K filed on June 6, 2018.
- Confirm the total number of shares outstanding and the conversion ratio details.
- Review the Articles Supplementary (Exhibit 3.1) for any restrictions or special rights attached to the new preferred stock class.