Franklin BSP Realty Trust Amends Bylaws, Security Holder Rights

TL;DR

**Franklin BSP Realty Trust just changed its bylaws and security holder rights, watch for details on how it impacts your shares!**

AI Summary

Franklin BSP Realty Trust, Inc. filed an 8-K on January 12, 2024, reporting an event on January 8, 2024, related to Material Modifications to Rights of Security Holders and Amendments to Articles of Incorporation or Bylaws. This indicates potential changes to the rights of common and Series E preferred stockholders. Investors should pay attention as these modifications could impact the value or voting power of their shares, potentially altering the investment's risk profile or future returns.

Why It Matters

Changes to security holder rights or company bylaws can directly affect the value, voting power, and overall attractiveness of a stock to investors.

Risk Assessment

Risk Level: medium — The filing indicates material modifications to security holder rights and bylaws, which could have either positive or negative implications for investors, creating uncertainty.

Analyst Insight

Investors should monitor Franklin BSP Realty Trust, Inc.'s future filings and announcements for detailed information regarding the specific changes to security holder rights and bylaws, as these could impact share value and voting power. Reviewing the full text of the amended documents, once available, is crucial.

Key Numbers

• 001-40923 — SEC File Number (identifies the company's registration with the SEC)
• 2024-01-08 — Earliest Event Date (indicates when the reported changes to rights and bylaws occurred)

Key Players & Entities

• Franklin BSP Realty Trust, Inc. (company) — the registrant filing the 8-K
• January 8, 2024 (date) — date of the earliest event reported
• January 12, 2024 (date) — date the 8-K was filed
• 001-40923 (dollar_amount) — Commission File Number
• 1345 Avenue of the Americas, Suite 32A New York, New York 10105 (company) — address of principal executive offices

Forward-Looking Statements

• Franklin BSP Realty Trust, Inc. will provide further details on the specific modifications to security holder rights and bylaws in a subsequent filing or announcement. (Franklin BSP Realty Trust, Inc.) — high confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $0.01 — registered Common Stock, par value $0.01 per share FBRT New York Stock Exchang

Filing Documents

• tm242540d1_8k.htm (8-K) — 31KB
• tm242540d1_ex3-1.htm (EX-3.1) — 11KB
• 0001104659-24-003703.txt ( ) — 261KB
• bsprt-20240108.xsd (EX-101.SCH) — 3KB
• bsprt-20240108_def.xml (EX-101.DEF) — 26KB
• bsprt-20240108_lab.xml (EX-101.LAB) — 36KB
• bsprt-20240108_pre.xml (EX-101.PRE) — 25KB
• tm242540d1_8k_htm.xml (XML) — 5KB

03

Item 3.03. Material Modification to Rights of Security Holders. The information set forth below under Item 5.03 is hereby incorporated by reference into this Item 3.03.

03

Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. Amendment No. 2 to Articles Supplementary for Series H Convertible Preferred Stock On January 10, 2024, Franklin BSP Realty Trust, Inc. (the " Company ") filed Amendment No. 2 (the " Amendment ") to the Articles Supplementary (the " Series H Articles Supplementary ") relating to the Company's Series H Convertible Preferred Stock, $0.01 par value per share (the " Series H Preferred Stock ") with the Maryland State Department of Assessments and Taxation, which Amendment became effective upon filing. The Company's Board of Directors (the " Board ") and the sole holder of the Series H Preferred Stock approved the Amendment, which was requested by the holder of the Series H Preferred Stock, to extend the mandatory conversion date for the Series H Preferred Stock, which was set to occur on January 19, 2024, to January 21, 2025. In addition, under the Amendment, the holder of the Series H Preferred Stock has the right to convert up to 4,487 shares of Series H Preferred Stock one time in each calendar month through December 2024, upon 10 business days' advance notice to the Company. No other terms in the Series H Articles Supplementary were amended. The foregoing description of the Amendment is a summary and is qualified in its entirety by the terms of the Amendment, which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.

07

Item 5.07 Submission of Matters to a Vote of Security Holders. On January 8, 2024, the sole stockholder of the Series H Preferred Stock executed and delivered to the Company a written consent approving the Amendment.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX Exhibit No. Description 3.1 Amendment No. 2 to Articles Supplementary of Franklin BSP Realty Trust, Inc., dated January 10, 2024, relating to Series H Convertible Preferred Stock 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, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Franklin BSP Realty Trust, Inc. By: /s/ Jerome S. Baglien Name: Jerome S. Baglien Title: Chief Financial Officer, Chief Operating Officer and Treasurer January 12, 2024

View Full Filing

View this 8-K filing on SEC EDGAR