Drive Shack Inc - Company Profile and News - Bloomberg.
#Drive shack dallas full#
Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. Factors that could cause or contribute to such differences include, but are not limited to, the risk that our Puttery constructions will take longer than we expect or will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. Ĭautionary Statement Concerning Forward-Looking StatementsĬertain statements contained in this press release constitute "forward-looking statements" including the Company’s expected use of proceeds of the facility to fund the development and construction of Puttery venues.
Current financial disclosure for the Company is available on and at. Today, our portfolio consists of American Golf, Drive Shack and Puttery. is a leading owner and operator of golf-related leisure and entertainment businesses focused on bringing people together through competitive socializing. Investors are encouraged to review the full description when available.ĭrive Shack Inc. The Company will make available a full description of the facility in its 2022 Annual Report on and at. The foregoing description is a summary only.
The facility is guaranteed by Company subsidiaries within, and is secured by all of the assets of, the Company’s entertainment golf segment, subject to certain customary and other exceptions included in the financing agreement for the facility. The facility will amortize on a quarterly basis at a rate of 5% per year beginning in 2024, and is subject to customary affirmative, negative and financial covenants, voluntary and mandatory prepayment provisions and events of default.
#Drive shack dallas plus#
The facility has a five-year term, and loans issued under the facility bear interest at an annual rate equal to SOFR plus 8.50%, subject to a 2.00% SOFR floor and 15 bps credit adjustment. (OTCQX: DSHK) (the "Company"), a leading owner and operator of golf-related leisure and entertainment businesses, announced today that it has obtained a $26.5 million senior secured term loan facility to fund the construction of its Puttery venues currently in development.Ĭompany subsidiaries within its entertainment golf segment made an initial borrowing of $16 million on March 3, and can borrow the remaining $10.5 million available under the Facility at any time up to September 1, 2023.Īll net proceeds of the facility will be used to fund the development and construction of the Company’s previously announced Puttery venues that are in development. DALLAS, March 08, 2023-( BUSINESS WIRE)-Drive Shack Inc.
0 kommentar(er)
