Mobile Infrastructure Completes $87.5 Million in Refinancings That Strengthen Its Financial Position and Increase Its Financial Flexibility
Mobile Infrastructure Corporation (BEEP)
Company Research
Source: Business Wire
Aligned debt with core asset values and extended maturitiesAdded to cash on hand and released encumbrances on three parking assets CINCINNATI--(BUSINESS WIRE)--Mobile Infrastructure Corporation (NYSE American: BEEP) ("Mobile", "Mobile Infrastructure" or the "Company"), a leading owner and operator of parking facilities across the United States, today announced the successful completion of $87.5 million in refinancing transactions. The transactions were completed with two separate loans at a weighted average interest rate of 7.69%, with various maturities between 2027 and 2034.With the net proceeds obtained from these refinancings, Mobile repaid a secured loan with KeyBank Capital Markets, which had an outstanding principal balance of $48.8 million and an interest rate of 8.19%, and two additional loans secured by parking assets in Chicago, Illinois and Cincinnati, Ohio, with an aggregate principal balance of $31.3 million. Substantially all of Mobile Infrastructure’s 2024 and 2025
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News
- Mobile Infrastructure Completes $87.5 Million in Refinancings That Strengthen Its Financial Position and Increase Its Financial Flexibility [Yahoo! Finance]Yahoo! Finance
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- Mobile Infrastructure Reports Third Quarter 2024 Financial ResultsBusiness Wire
- Mobile Infrastructure to Present at Sidoti Micro Cap Virtual Conference on November 14 [Yahoo! Finance]Yahoo! Finance
- Mobile Infrastructure to Present at Sidoti Micro Cap Virtual Conference on November 14Business Wire
BEEP
Sec Filings
- 12/23/24 - Form 8-K
- 12/23/24 - Form 424B3
- 12/12/24 - Form 4
- BEEP's page on the SEC website