Comstock Holding Companies Enters Material Definitive Agreement
Ticker: CHCI · Form: 8-K · Filed: Sep 17, 2024 · CIK: 1299969
| Field | Detail |
|---|---|
| Company | Comstock Holding Companies, Inc. (CHCI) |
| Form Type | 8-K |
| Filed Date | Sep 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, definitive-agreement
TL;DR
Comstock Holding Companies just signed a big deal, details TBD.
AI Summary
On September 11, 2024, Comstock Holding Companies, Inc. entered into a material definitive agreement. The filing does not provide specific details about the agreement, its terms, or any associated dollar amounts. The company is incorporated in Delaware and its principal executive offices are located in Reston, Virginia.
Why It Matters
This filing indicates a significant new agreement for Comstock Holding Companies, Inc., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- Comstock Holding Companies, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- Reston, Virginia (location) — Principal executive offices
- September 11, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Comstock Holding Companies, Inc. on September 11, 2024?
The filing states that Comstock Holding Companies, Inc. entered into a material definitive agreement on September 11, 2024, but does not provide specific details about the agreement itself.
Are there any financial terms or dollar amounts associated with this material definitive agreement?
The provided filing does not disclose any specific dollar amounts or financial terms related to the material definitive agreement.
What is the company's former name, and when was it changed?
The company's former name was Comstock Homebuilding Companies, Inc., and the date of the name change was August 6, 2004.
In which state is Comstock Holding Companies, Inc. incorporated?
Comstock Holding Companies, Inc. is incorporated in Delaware.
What is the address of Comstock Holding Companies, Inc.'s principal executive offices?
The principal executive offices of Comstock Holding Companies, Inc. are located at 1900 Reston Metro Plaza, 10th Floor, Reston, Virginia 20190.
Filing Stats: 729 words · 3 min read · ~2 pages · Grade level 15 · Accepted 2024-09-17 12:41:39
Key Financial Figures
- $0.01 — stered Class A Common Stock, par value $0.01 CHCI Nasdaq Capital Market Indicate b
Filing Documents
- chci-20240911.htm (8-K) — 30KB
- firstamendmenttomasteras.htm (EX-10.1) — 15KB
- firstamendmenttomasteras001.jpg (GRAPHIC) — 257KB
- firstamendmenttomasteras002.jpg (GRAPHIC) — 289KB
- firstamendmenttomasteras003.jpg (GRAPHIC) — 137KB
- firstamendmenttomasteras004.jpg (GRAPHIC) — 62KB
- firstamendmenttomasteras005.jpg (GRAPHIC) — 118KB
- firstamendmenttomasteras006.jpg (GRAPHIC) — 51KB
- firstamendmenttomasteras007.jpg (GRAPHIC) — 63KB
- 0001299969-24-000029.txt ( ) — 1521KB
- chci-20240911.xsd (EX-101.SCH) — 2KB
- chci-20240911_lab.xml (EX-101.LAB) — 22KB
- chci-20240911_pre.xml (EX-101.PRE) — 13KB
- chci-20240911_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On September 11, 2024, CHCI Asset Management, LC ("CAM"), an entity wholly-owned by Comstock Holding Companies, Inc. (the "Company"), and Comstock Partners, LC ("CP"), an entity controlled by the Chief Executive Officer of the Company, Christopher Clemente, and wholly-owned by Mr. Clemente and certain family members, entered into the First Amendment to the Master Asset Management Agreement, with an effective date of July 1, 2024 (the "First Amendment"), which amends that certain Master Asset Management Agreement, dated as of June 13, 2022, between CAM and CP (the "2022 AMA"). The First Amendment, among other things, (i) reflects the deferral of an Operating Assets Trigger Event (as defined in the 2022 AMA) for seven Real Estate Assets originally scheduled on October 1, 2024 (as defined in the 2022 AMA), at the election of the parties, to either (a) October 1, 2027, (b) upon the sale of a Real Estate Asset, (c) upon the refinance of the Real Estate Asset, or (d) the period of time in which a 85% leased rate has been achieved if the Real Estate Asset is a commercial asset; (ii) revises the definition of the Development and Construction Management Fee in the 2022 AMA to include payment of the fee during delays in delivery caused by a casualty event; and (iii) revises the definition of Supplemental Fees in the 2022 AMA to include a lease termination fee equal to 3.50% of the gross rental revenue paid by any tenant of a commercial asset in connection with the early termination of a lease. Except as amended by the First Amendment, the terms of the 2022 AMA remain in full force and effect. The foregoing summary of the terms of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the First Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 10.1 First Amendment to Master Asset Management Agreement, dated as of September 11, 2024 and effective as of July 1, 2024, between CHCI Asset Management, LC and Comstock Partners, LC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMSTOCK HOLDING COMPANIES, INC. Date: September 16, 2024 By: /s/ CHRISTOPHER CLEMENTE Christopher Clemente Chairman and Chief Executive Officer