Postal Realty Trust Enters Material Definitive Agreement

TL;DR

PRCL just signed a big deal, new debt or obligation incoming.

AI Summary

On October 25, 2024, Postal Realty Trust, Inc. entered into a material definitive agreement, likely related to a financial obligation. The filing indicates the creation of a direct financial obligation or an off-balance sheet arrangement for the registrant. Specific details regarding the agreement, parties involved, and the exact nature of the financial obligation are not provided in this summary section of the 8-K.

Why It Matters

This filing signals a new financial commitment or obligation for Postal Realty Trust, Inc., which could impact its balance sheet and future financial flexibility.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation or off-balance sheet arrangement introduces potential financial risk and impacts the company's leverage.

Key Players & Entities

• Postal Realty Trust, Inc. (company) — Registrant
• October 25, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — tered Class A Common Stock, par value $0.01 per share PSTL New York Stock Excha
• $50.0 million — an aggregate principal amount of up to $50.0 million. On the Effective Date, the Borrower bo
• $40.0 million — e Effective Date, the Borrower borrowed $40.0 million of these new delayed draw term loan com

Filing Documents

• ea0218662-8k_postal.htm (8-K) — 27KB
• ea021866201ex10-1_postal.htm (EX-10.1) — 91KB
• 0001213900-24-090950.txt ( ) — 302KB
• pstl-20241025.xsd (EX-101.SCH) — 3KB
• pstl-20241025_lab.xml (EX-101.LAB) — 33KB
• pstl-20241025_pre.xml (EX-101.PRE) — 22KB
• ea0218662-8k_postal_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On October 25, 2024 (the "Effective Date"), Postal Realty Trust, Inc. (the "Company"), Postal Realty LP (the "Borrower"), certain subsidiaries of the Company, Truist Bank, as administrative agent, and certain lenders party to the Credit Agreement (as defined below) entered into that certain Resignation and Appointment of Administrative Agent, L/C Issuer and Swingline Lender and Third Amendment to Credit Agreement (the "Third Amendment"), which amends that certain Credit Agreement dated as of August 9, 2021, (as amended by the First Amendment to Credit Agreement dated as of May 11, 2022, and further amended by the Second Amendment to the Credit Agreement, dated as of July 24, 2023) entered into by and among the Company, the Borrower, certain subsidiaries of the Company, the Bank of Montreal and the lenders party thereto (as previously amended and as amended by the Third Amendment, the "Credit Agreement"). Capitalized terms used below and not defined herein have the meanings ascribed to them in the Credit Agreement. The Third Amendment, among other things, replaces the Bank of Montreal with Truist Bank as the administrative agent, letter of credit issuer and swingline lender. Additionally, the Third Amendment increases the delayed draw term loan commitments in an aggregate principal amount of up to $50.0 million. On the Effective Date, the Borrower borrowed $40.0 million of these new delayed draw term loan commitments. The foregoing summary of the Third Amendment and the Credit Agreement does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, a copy of which is attached as Exhibit 10.1 and is incorporated herein by reference.

03. Creation of a Direct Financial Obligation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 is incorporated herein by reference in this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Document 10.1 Resignation and Appointment of Administrative Agent, L/C Issuer and Swingline Lender and Third Amendment to Credit Agreement, dated October 25, 2024, by and among Postal Realty LP, Postal Realty Trust, Inc., the certain subsidiaries from time to time party thereto as guarantors, and Truist Bank, as administrative agent, and the several banks and financial institutions party thereto as lenders. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE 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. Date: October 28, 2024 POSTAL REALTY TRUST, INC. By: /s/ Jeremy Garber Name: Jeremy Garber Title: President, Treasurer and Secretary 2

View Full Filing

View this 8-K filing on SEC EDGAR