Sadot Group secures option for 147 California units, $125.5M value

Key Highlights

• Sadot Group secured an exclusive 6-month option to acquire 7 California residential properties.
• The portfolio comprises 147 residential units with a total agreed value of $125.5 million.
• Agreed equity value is $69.5 million, with $56.0 million in existing loans remaining.
• A non-refundable option fee of $1,042,500 (1.5% of equity value) was paid in common stock.
• Option Fee Tranche 1 involved 132,803 common shares priced at $7.85 per share.
• The exercise price is $69.5 million, payable in non-convertible Series C Preferred Stock or cash.
• A post-closing management fee of $100,000 per month is payable in Series C Preferred Stock or cash.
• Series C Preferred Stock is non-convertible, pari passu with common stock, with no voting rights.