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Stock Market & Financial Investment News

News Breaks
June 16, 2014
11:19 EDTAQQAmerican Spectrum Realty enters settlement with Dunham & Associates
American Spectrum Realty announced the settlement of an action filed by American Spectrum in the District Court of Harris County, Texas, entitled American Spectrum et. al. v. Dunham & Associates Holdings, Inc. et. al., Case No. 2014-24363. The Settlement Agreement entered into between American Spectrum and its affiliates and Dunham & Associates Holdings and its affiliates provides for the repurchase by the Dunham entities from the American Spectrum entities of fourteen properties previously transferred by the Dunham entities pursuant to a Contribution Agreement between American Spectrum and Dunham. The parties valued the Properties at an aggregate value of $55,531,000.00 and the Dunham entities assumed debt on the Properties in an aggregate amount $8,119,799.00. In consideration for the transfer of the Properties, the Dunham entities surrendered to American Spectrum shares of American Spectrum 8% Cumulative Preferred Stock, Series B, with an aggregate liquidation preference of $47,411,201.00, which amount is equal to the net contribution value at which the Properties were originally contributed to American Spectrum. Concurrent with the repurchase of the Properties, the parties agreed to amend the charter documents of American Spectrum to modify the rights, preferences and privileges of the Series B Preferred, the class of equity security retained by Dunham. In addition, American Spectrum and the Dunham entities modified a loan arrangement between American Spectrum and the Dunham entities to eliminate the obligation of Dunham to make or arrange additional loans to American Spectrum. Pursuant to this loan arrangement, Dunham previously advanced $3,000,000.00 to the American Spectrum entities on January 3. The obligation remains outstanding.
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July 28, 2014
09:08 EDTAQQAmerican Spectrum Realty trading halted, pending news
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July 25, 2014
09:05 EDTAQQAmerican Spectrum Realty trading halted, pending news
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July 23, 2014
09:10 EDTAQQAmerican Spectrum Realty trading halted, pending news
July 22, 2014
09:06 EDTAQQAmerican Spectrum Realty trading halted, pending news
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July 21, 2014
09:04 EDTAQQAmerican Spectrum Realty trading halted, pending news
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July 18, 2014
09:24 EDTAQQAmerican Spectrum Realty trading halted, pending news
July 17, 2014
09:08 EDTAQQAmerican Spectrum Realty trading halted, pending news
July 16, 2014
09:10 EDTAQQAmerican Spectrum Realty trading halted, pending news

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