Portsmouth Square Inc. Enters Material Definitive Agreement
Ticker: PRSI · Form: 8-K · Filed: May 2, 2024 · CIK: 79661
| Field | Detail |
|---|---|
| Company | Portsmouth Square Inc (PRSI) |
| Form Type | 8-K |
| Filed Date | May 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $8,589,706.44, $4.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
Portsmouth Square Inc. just signed a big deal, filing an 8-K on it.
AI Summary
Portsmouth Square, Inc. entered into a material definitive agreement on April 29, 2024. This agreement involves a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The filing also includes financial statements and exhibits related to this event.
Why It Matters
This filing indicates a significant new financial commitment or arrangement for Portsmouth Square, Inc., which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements can introduce new financial risks and obligations that are not yet fully understood.
Key Players & Entities
- Portsmouth Square, Inc. (company) — Registrant
- April 29, 2024 (date) — Date of earliest event reported
- 11620 Wilshire Boulevard, Suite 350, Los Angeles, CA 90025 (address) — Business and Mail Address
- 0-4057 (company_id) — Commission File Number
- 94-1674111 (tax_id) — IRS Employer Identification No.
FAQ
What type of material definitive agreement did Portsmouth Square, Inc. enter into?
The filing states that the agreement involves a "Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant" but does not specify the exact nature of the agreement.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on April 29, 2024.
What is Portsmouth Square, Inc.'s principal executive office address?
The principal executive offices are located at 1516 S. Bundy Drive, Suite 200, Los Angeles, CA 90025.
What is Portsmouth Square, Inc.'s state of incorporation?
Portsmouth Square, Inc. is incorporated in California.
What is the SIC code for Portsmouth Square, Inc.?
The Standard Industrial Classification code is 6552 for LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES).
Filing Stats: 551 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-05-01 17:47:28
Key Financial Figures
- $8,589,706.44 — 10% principal paydown in the amount of $8,589,706.44. On April 29, 2024, CRED REIT HOLDCO
- $4.5 million — 2025. The Mezz Lender also has advanced $4.5 million for payment of the 10% principal paydow
Filing Documents
- form8-k.htm (8-K) — 36KB
- 0001493152-24-017462.txt ( ) — 199KB
- prsi-20240429.xsd (EX-101.SCH) — 3KB
- prsi-20240429_lab.xml (EX-101.LAB) — 33KB
- prsi-20240429_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
01 above
Item 1.01 above. Item 9.01. Exhibits 104 Cover Page Interactive Data File
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. PORTSMOUTH SQUARE, INC. Dated: May 1, 2024 By: /s/ John V. Winfield Chairman and Chief Executive Officer