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On October 1, 2022, Terra Property Trust completed its merger with Terra Income Fund 6, enhancing diversification and financial strength. The company aims to repurchase certain 6.00% Notes due 2026 (TPTA) and 7.00% Notes due 2026 (TFSA), which could improve capital market access and shareholder liquidity. Management will determine timing and amounts based on market conditions. The merger is expected to support strategic growth and potentially increase shareholder value.
Terra Income Fund 6, Inc. (NYSE: TFSA) announced that its stockholders approved a merger with Terra Merger Sub, LLC, a subsidiary of Terra Property Trust, Inc. (NYSE: TPTA), during a virtual meeting on September 12, 2022. The merger is expected to close around October 1, 2022. Shareholders will receive 0.595 shares of TPT Class B Common Stock and cash for fractional shares. The Class B shares will convert into TPT Class A Common Stock over time, enhancing common stockholder rights post-merger.
Terra Income Fund 6 announced a public offering of $34.75 million in 7.00% unsecured notes due March 31, 2026. The notes will yield interest quarterly, starting June 30, 2021. Investors can purchase an additional $5.21 million in notes if underwriters exercise their option. Proceeds will fund targeted investments and general corporate purposes. The offering is expected to close on February 10, 2021, with the notes listed on the NYSE under the symbol TFSA.
Terra Income Fund 6, Inc. announced a registered public offering of Notes, with proceeds aimed at targeted investments and general corporate purposes. The Notes will trade on the NYSE under the symbol 'TFSA' within 30 days of issuance. Ladenburg Thalmann, William Blair, and National Securities Corporation serve as joint managers of the offering. A registration statement has been filed with the SEC but is not yet effective, and sales will not occur until it is approved. Investors are advised to review the preliminary prospectus for detailed information.
