Clipper Realty Inc. Reports Financial Obligation Trigger
Ticker: CLPR · Form: 8-K · Filed: Nov 15, 2024 · CIK: 1649096
| Field | Detail |
|---|---|
| Company | Clipper Realty Inc. (CLPR) |
| Form Type | 8-K |
| Filed Date | Nov 15, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $100.0 million, $2.2 million, $555,555, $1.2 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financial-obligation
Related Tickers: CLPR
TL;DR
Clipper Realty's got a financial obligation trigger event – could mean more debt or faster payments.
AI Summary
Clipper Realty Inc. filed an 8-K on November 15, 2024, reporting a triggering event that accelerates or increases a direct financial obligation or an obligation under an off-balance sheet arrangement as of November 11, 2024. The filing does not specify the exact nature of the obligation or the dollar amount involved.
Why It Matters
This filing indicates a potential change or acceleration in Clipper Realty's financial obligations, which could impact its financial health and future borrowing capacity.
Risk Assessment
Risk Level: medium — The nature of the accelerated or increased financial obligation is not detailed, creating uncertainty about the potential impact on the company's financial stability.
Key Players & Entities
- Clipper Realty Inc. (company) — Registrant
- November 11, 2024 (date) — Date of earliest event reported
- November 15, 2024 (date) — Filing date
- 4611 12th Avenue, Suite 1L Brooklyn, New York 11219 (address) — Principal Executive Offices
FAQ
What specific financial obligation was triggered or accelerated for Clipper Realty Inc.?
The filing does not specify the exact nature of the financial obligation that was triggered or accelerated.
What is the dollar amount associated with the accelerated or increased financial obligation?
The filing does not disclose the specific dollar amount of the obligation.
What is the effective date of this triggering event?
The earliest event reported is dated November 11, 2024.
Is this an obligation under an off-balance sheet arrangement or a direct financial obligation?
The filing states it could be either a direct financial obligation or an obligation under an off-balance sheet arrangement.
Does this filing provide details on the counterparty to this financial obligation?
No, the filing does not provide information about the counterparty to the obligation.
Filing Stats: 1,118 words · 4 min read · ~4 pages · Grade level 13.4 · Accepted 2024-11-15 16:31:50
Key Financial Figures
- $0.01 — ch registered Common Stock , par value $0.01 per share CLPR New York Stock Exchan
- $100.0 million — ed to a loan in the principal amount of $100.0 million (the "Loan"). The Loan is evidenced by
- $2.2 million — vicer demanded that the Company pay (i) $2.2 million of reserve payments into a reserve acco
- $555,555 — 2024 and continued monthly payments of $555,555 for an additional 14 months, (ii) $1.2
- $1.2 million — 5,555 for an additional 14 months, (ii) $1.2 million of default interest and late charges th
- $10,417 — ctober 7, 2024, and (iii) an additional $10,417 per diem interest for each day thereaft
- $5.0 million — cipal amount of the Loan, approximately $5.0 million of default yield maintenance premium, $
- $10.0 million — n of default yield maintenance premium, $10.0 million aggregate reserve deposit, and approxim
- $1.6 million — gate reserve deposit, and approximately $1.6 million of default interest and penalties. We
Filing Documents
- clpr20241115_8k.htm (8-K) — 30KB
- 0001437749-24-035496.txt ( ) — 160KB
- clpr-20241111.xsd (EX-101.SCH) — 3KB
- clpr-20241111_def.xml (EX-101.DEF) — 11KB
- clpr-20241111_lab.xml (EX-101.LAB) — 15KB
- clpr-20241111_pre.xml (EX-101.PRE) — 11KB
- clpr20241115_8k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Clipper Realty Inc. By: /s/ David Bistricer Name: David Bistricer Title: Co-Chairman and Chief Executive Officer Date: November 15, 2024