Filing Analysis
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about September 14, 2026.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share.
- Series 1 Preferred Stock dividend: $4.583 per share.
- Payment Date: On or about September 14, 2026.
- Series A Record Date: Close of business on August 30, 2026.
- Series 1 Record Date: Close of business on August 24, 2026.
Mobile Infrastructure Corp (BEEP) filed an 8-K to announce the release of its second fiscal quarter financial results for the period ended June 30, 2026. The filing serves as a formal notice that earnings information has been made public via press release and the company's investor relations website.
📋 Key Facts
- Reporting date: August 11, 2026
- Period covered: Second fiscal quarter ended June 30, 2026
- The filing includes Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure)
- Financial results were released via press release dated August 11, 2026
Mobile Infrastructure Corp announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about August 12, 2026.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about August 12, 2026.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about August 12, 2026.
- Record date for Series A: July 28, 2026.
- Record date for Series 1: July 24, 2026.
Mobile Infrastructure Corp entered into a Fourth Amendment to its Credit Agreement with Harvest Small Cap Partners, L.P., extending the maturity date by only three months and granting lenders the option to demand monthly interest payments in cash.
🚩 Red Flags
- Short-term extension: The maturity date was only pushed back by three months (from June to September 2026), suggesting immediate liquidity pressure.
- Cash interest demand: Lenders gained the right to demand monthly cash interest payments, which can create sudden working capital strain.
- Related-party transaction: Mr. Jeffrey Osher, co-chair of the Board, is a managing member of the entity acting as investment manager for the Lenders.
- Frequent amendments: This is the fourth amendment in less than two years, indicating ongoing restructuring or difficulty meeting original terms.
📋 Key Facts
- Maturity date extended from June 30, 2026, to September 30, 2026.
- Lenders may require accrued interest to be paid in cash on the first business day of each month starting August 1, 2026.
- The amendment is a Fourth Amendment to an existing Credit Agreement originally dated September 11, 2024.
- The transaction involves Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about July 13, 2026.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share.
- Series 1 Preferred Stock dividend: $4.583 per share.
- Payment Date: On or about July 13, 2026.
- Record Date (Series A): June 24, 2026.
- Record Date (Series 1): June 28, 2026.
Mobile Infrastructure Corporation reported the results of its 2026 Annual Meeting of Stockholders held on June 18, 2026. Stockholders elected six directors, ratified Grant Thornton LLP as the independent auditor, and approved an amended incentive award plan.
📋 Key Facts
- Stockholders approved the Amended and Restated 2023 Incentive Award Plan, which increases the number of common stock shares available for issuance by 3,000,000.
- Grant Thornton LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Six directors were elected to the Board: Stephanie Hogue, Manuel Chavez, III, David Garfinkle, Danica Holley, Damon Jones, and Jeffrey B. Osher.
- The voting for the Incentive Award Plan showed 26,971,096 votes 'For' and 1,228,600 votes 'Against'.
Mobile Infrastructure Corporation announced that its Board of Directors has declared monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about June 12, 2026, to shareholders of record in late May 2026.
📋 Key Facts
- Board authorized and declared monthly dividends on Series A Preferred Stock at a rate of $4.791 per share.
- Board authorized and declared monthly dividends on Series 1 Preferred Stock at a rate of $4.583 per share.
- The payment date for both dividends is on or about June 12, 2026.
- Record dates are May 28, 2026, for Series A and May 24, 2026, for Series 1.
Mobile Infrastructure Corp (BEEP) announced its financial results for the first fiscal quarter ended March 31, 2026. The information was furnished via a press release and made available on the company's investor relations website.
📋 Key Facts
- The filing reports financial results for the quarter ended March 31, 2026.
- The report was filed on May 12, 2026, under Items 2.02 and 7.01.
- A press release detailing the results was included as Exhibit 99.1.
- The company is classified as an emerging growth company.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about May 12, 2026, to shareholders of record as of late April 2026.
📋 Key Facts
- The Board of Directors authorized the dividends on April 24, 2026.
- Series A Preferred Stock dividend rate is $4.791 per share.
- Series 1 Preferred Stock dividend rate is $4.583 per share.
- Payment date for both classes is set for May 12, 2026.
- Record date for Series A is April 27, 2026; record date for Series 1 is April 24, 2026.
Mobile Infrastructure Corp (BEEP) entered into a third amendment to its credit agreement with Harvest Small Cap Partners, extending the maturity date by three months to June 30, 2026. The transaction involves a related party, as Board Co-chair Jeffrey Osher manages the lending entities.
🚩 Red Flags
- Short-term 90-day extension suggests potential difficulty in securing long-term refinancing
- Related-party transaction involving the Co-chair of the Board of Directors
- Multiple amendments (three) to the credit facility within an 18-month period
📋 Key Facts
- Extended the maturity date of the Credit Agreement from March 31, 2026, to June 30, 2026
- The lenders, Harvest Small Cap Partners, are managed by No Street Capital LLC, where Board Co-chair Jeffrey Osher is the managing member
- This is the third amendment to the original Credit Agreement dated September 11, 2024
- Declared monthly dividends for Series A Preferred Stock ($4.791/share) and Series 1 Preferred Stock ($4.583/share) payable April 13, 2026
Mobile Infrastructure Corp (BEEP) issued a press release on March 2, 2026, announcing its financial results for the fourth quarter and full fiscal year ended December 31, 2025.
📋 Key Facts
- The company reported financial results for the fourth quarter and fiscal year ended December 31, 2025.
- The announcement was made via a press release furnished as Exhibit 99.1.
- The filing was made under Item 2.02 (Results of Operations and Financial Condition) and Item 7.01 (Regulation FD Disclosure).
- The report was signed by Stephanie Hogue, President and CEO.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled for payment on March 12, 2026, to shareholders of record as of late February 2026.
📋 Key Facts
- Series A Preferred Stock dividend declared at $4.791 per share.
- Series 1 Preferred Stock dividend declared at $4.583 per share.
- Payment date for both dividends is March 12, 2026.
- Record dates are February 25, 2026, for Series A and February 24, 2026, for Series 1.
Mobile Infrastructure Corporation has declared monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about February 12, 2026.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about Feb 12, 2026; record date Jan 28, 2026.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about Feb 12, 2026; record date Jan 24, 2026.
Mobile Infrastructure Corp entered into a Second Amendment to its Credit Agreement to extend the maturity date from December 31, 2025, to March 31, 2026. The amendment involves Harvest Small Cap Partners, L.P., where a company board co-chair serves as managing member of the investment manager, making this a related-party transaction.
🚩 Red Flags
- Related-party transaction: A Board Co-Chair has a direct management role with the lender (Harvest Small Cap Partners).
- Liquidity/Maturity Risk: The company required an amendment to extend its debt maturity by only three months, moving from end-of-year 2025 to March 2026.
📋 Key Facts
- Maturity date for the Credit Agreement extended from December 31, 2025, to March 31, 2026.
- The amendment involves Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd.
- Jeffrey Osher (Board Co-Chair) is the managing member of No Street Capital LLC, which manages the lenders.
- Declared monthly dividends for Series A Preferred Stock ($4.791/share) and Series 1 Preferred Stock ($4.583/share).
- Dividend payment date set for on or about January 12, 2026.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about December 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about Dec 12, 2025 (Record date: Nov 27, 2025).
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about Dec 12, 2025 (Record date: Nov 24, 2025).
- Dividends are subject to Board discretion based on financial condition.
Mobile Infrastructure Corp filed an amendment to its previous 8-K to disclose compensation details for leadership changes. Manuel Chavez, III is transitioning from CEO to Executive Chairman, and Stephanie Hogue has been appointed as the new CEO effective August 1, 2025.
🚩 Red Flags
- Executive leadership transition (CEO change) can introduce operational uncertainty.
- Performance-based equity for the former CEO is tied to aggressive asset sale targets ($100M), indicating a focus on liquidity/divestiture.
📋 Key Facts
- Manuel Chavez, III transition to Executive Chairman of the Board (effective Aug 1, 2025).
- Stephanie Hogue appointed as Chief Executive Officer (effective Aug 1, 2025).
- Chavez to receive 550,000 performance-based long-term incentive units vesting Dec 31, 2027.
- Performance condition for Chavez: Completion of $100,000,000 in asset sales by end of 2027.
- Hogue's compensation includes a $600,000 base salary and target annual equity grant of $1,000,000.
- Hogue's agreement includes a non-compete clause for two years following termination.
Mobile Infrastructure Corp (BEEP) has filed an 8-K to announce the release of its third fiscal quarter financial results for the period ended September 30, 2025.
📋 Key Facts
- The filing is a standard earnings announcement via press release (Exhibit 99.1).
- Reporting period: Third fiscal quarter ended September 30, 2025.
- Filing date: November 10, 2025.
Mobile Infrastructure Corp completed a $100 million asset-backed securitization via its subsidiary, issuing 4.15% Series 2025-1 Class A-2 Notes. The net proceeds were primarily used to repay existing indebtedness, including an outstanding loan agreement with Bank of America.
🚩 Red Flags
- The notes were issued at a significant discount (88.3% of principal), indicating higher perceived risk or specific structuring costs.
- Securitization involves complex, tiered debt structures that can increase financial complexity and leverage.
📋 Key Facts
- Completed $100,000,000 asset-backed securitization on October 29, 2025.
- Issued Series 2025-1 Class A-2 Notes at a purchase price of 88.30372% of the principal amount.
- Notes carry a 4.15% interest rate with an anticipated repayment date in October 2030 and final maturity in October 2055.
- Proceeds used to fully repay existing obligations under a Loan Agreement dated January 10, 2017, with Bank of America, N.A.
- Notes are secured by mortgages and deeds of trust on real property interests in designated parking facilities.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about November 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share.
- Series 1 Preferred Stock dividend: $4.583 per share.
- Record date for Series A: October 28, 2025.
- Record date for Series 1: October 24, 2025.
- Payment Date: On or about November 12, 2025.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about October 13, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share.
- Series 1 Preferred Stock dividend: $4.583 per share.
- Payment Date: On or about October 13, 2025.
- Record Date (Series A): Close of business on September 28, 2025.
- Record Date (Series 1): Close of business on September 24, 2025.
Mobile Infrastructure Corp entered into an amendment to its Credit Agreement with Harvest Small Cap Partners, L.P., extending the maturity date from September 11, 2025, to December 31, 2025. The transaction is flagged as a related-party transaction because a Board member's firm serves as the investment manager for the lender.
🚩 Red Flags
- Related-party transaction involving a Board Co-chair (Jeffrey Osher) and the lender's investment manager.
- Short-term extension: The maturity date is only extended by approximately 3.5 months, suggesting immediate liquidity pressure or a need for rapid refinancing.
- Potential 'bridge' financing scenario indicating difficulty in securing long-term capital.
📋 Key Facts
- Amendment extends Credit Agreement maturity from September 11, 2025, to December 31, 2025.
- Lenders are Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd.
- Jeffrey Osher (Board Co-chair) is the managing member of No Street Capital LLC, which manages the lender's funds.
- The amendment was entered into on September 5, 2025.
Mobile Infrastructure Corporation has declared monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about September 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about Sept 12, 2025; record date Aug 28, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about Sept 12, 2025; record date Aug 24, 2025.
- Dividends are subject to Board discretion and financial condition.
Mobile Infrastructure Corp (BEEP) has filed an 8-K to announce the release of its financial results for the second fiscal quarter ended June 30, 2025. The filing serves as a formal notification that earnings data is now available via press release and on the company's investor relations website.
📋 Key Facts
- Reporting period: Second fiscal quarter ended June 30, 2025.
- Filing date: August 12, 2025.
- The filing includes a press release (Exhibit 99.1) regarding financial results.
- Information is provided under Item 2.02 and Item 7.01.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about August 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about August 12, 2025; record date July 28, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about August 12, 2025; record date July 24, 2025.
Mobile Infrastructure Corp announced a leadership transition where CEO Manuel Chavez, III will move to Executive Chairman on August 1, 2025, and current President Stephanie Hogue will succeed him as CEO. The filing also details the results of the 2025 annual meeting and dividend declarations for preferred stock.
🚩 Red Flags
- CEO transition (though internal promotion reduces typical 'departure' risk).
📋 Key Facts
- Manuel Chavez, III transitioning from CEO to Executive Chairman effective August 1, 2025.
- Stephanie Hogue appointed as new CEO effective August 1, 2025; she will retain her role as President.
- The Board approved the formation of a new Investment Committee, chaired by Manuel Chavez, III.
- Series A Preferred Stock dividend declared at $4.791 per share, payable on or about July 14, 2025.
- Series 1 Preferred Stock dividend declared at $4.583 per share, payable on or about July 14, 2025.
- Six directors were elected during the 2025 Annual Meeting of stockholders.
Mobile Infrastructure Corp has dismissed Deloitte & Touche LLP as its independent auditor and appointed Grant Thornton LLP effective June 5, 2025. The dismissal follows the identification of material weaknesses in internal controls over financial reporting for the fiscal year ended December 31, 2023.
🚩 Red Flags
- Auditor change combined with previously reported material weaknesses in internal controls (segregation of duties and control documentation).
- Material weakness in internal control over financial reporting as of year-end 2023.
📋 Key Facts
- Dismissal of Deloitte & Touche LLP on June 5, 2025.
- Engagement of Grant Thornton LLP as the new independent auditor effective immediately.
- Deloitte's previous audit reports for FY2023 and FY2024 were unmodified/unqualified.
- Material weaknesses in internal control over financial reporting identified for the year ended December 31, 2023.
- Specific deficiencies noted: lack of segregation of duties in accounting/finance and ineffective design/operation of controls regarding documentation of review.
Mobile Infrastructure Corporation has declared monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about June 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about June 12, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about June 12, 2025.
- Record date for Series A: May 28, 2025.
- Record date for Series 1: May 24, 2025.
Mobile Infrastructure Corp is voluntarily withdrawing its common stock from the NYSE American to transfer its listing to Nasdaq. The company also released its Q1 2025 financial results.
🚩 Red Flags
- Voluntary delisting from one exchange to another can sometimes indicate a strategic shift or response to liquidity/market perception issues, though it is not inherently negative if the move to Nasdaq is intended to improve visibility or meet different listing requirements.
📋 Key Facts
- Voluntary withdrawal of listing from NYSE American LLC.
- Expected end of trading on NYSE American: May 22, 2025 (market close).
- Expected commencement of trading on Nasdaq: May 23, 2025 (market open).
- Ticker symbol 'BEEP' will remain unchanged.
- Release of Q1 fiscal quarter financial results ended March 31, 2025.
Mobile Infrastructure Corp announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about May 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about May 12, 2025 (Record date: April 27, 2025).
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about May 12, 2025 (Record date: April 24, 2025).
- Dividends are declared under Item 8.01 (Other Events).
Mobile Infrastructure Corporation announced that Brad Greiwe will not stand for re-election to the Board of Directors at the upcoming 2025 Annual Meeting. His departure is characterized as a voluntary decision and not due to any disagreement with management or company practices.
📋 Key Facts
- Brad Greiwe informed the Company on April 1, 2025, that he will not stand for re-election at the 2025 Annual Meeting of Stockholders.
- Mr. Greiwe will continue to serve as a director until the conclusion of the Annual Meeting.
- The departure is explicitly stated to be unrelated to any disagreements regarding company operations, policies, or practices.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to be distributed in mid-April 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on or about April 14, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on or about April 14, 2025.
- Record date for Series A: March 30, 2025.
- Record date for Series 1: March 24, 2025.
Mobile Infrastructure Corporation has issued an 8-K to announce the release of its financial results for the fourth fiscal quarter and full year ended December 31, 2024.
📋 Key Facts
- The filing is a standard earnings announcement via press release (Exhibit 99.1).
- Covers the period ending December 31, 2024.
- Filed on March 10, 2025.
- Company is an emerging growth company.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about March 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about March 12, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about March 12, 2025.
- Record date for Series A: February 25, 2025.
- Record date for Series 1: February 24, 2025.
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about February 12, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share; payable on/about Feb 12, 2025; record date Jan 28, 2025.
- Series 1 Preferred Stock dividend: $4.583 per share; payable on/about Feb 12, 2025; record date Jan 24, 2025.
Mobile Infrastructure Corporation declared monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about January 13, 2025.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about Jan 13, 2025 (Record date: Dec 29, 2024).
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about Jan 13, 2025 (Record date: Dec 24, 2024).
- Dividends are subject to Board discretion and financial condition.
Mobile Infrastructure Corporation entered into a $75.5 million CMBS financing agreement with Argentic Real Estate Finance 2 LLC on December 6, 2024. The proceeds were used to repay an existing revolving credit facility with KeyBank and refinance a property-level loan.
🚩 Red Flags
- The loan is secured by first priority mortgages and assignments of leases/rents, increasing the impact of potential defaults on specific properties.
- Requires the Operating Company to maintain a minimum net worth of $40.0 million, which could trigger default if asset valuations drop.
📋 Key Facts
- Loan Amount: $75.5 million CMBS financing.
- Lender: Argentic Real Estate Finance 2 LLC.
- Purpose: Repay/discharge existing revolving credit facility with KeyBank; refinance a property level loan.
- Maturity Date: December 6, 2034 (10-year term).
- Interest Rate: 7.755% annual fixed rate.
- Amortization: Based on a 35-year schedule.
- Security: First priority mortgage, assignment of leases/rents, and security interest in personal property across seven subsidiaries.
- Guaranty Requirement: Operating Company must maintain a net worth exceeding $40.0 million.
Mobile Infrastructure Corp announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The payments are scheduled to occur on or about December 12, 2024.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share, payable on/about Dec 12, 2024; record date Nov 27, 2024.
- Series 1 Preferred Stock dividend: $4.583 per share, payable on/about Dec 12, 2024; record date Nov 24, 2024.
- Dividends are subject to Board discretion and financial condition.
Mobile Infrastructure Corporation issued an 8-K to announce the release of its financial results for the third fiscal quarter ended September 30, 2024.
📋 Key Facts
- Report date: November 12, 2024
- Reporting period: Third fiscal quarter ended September 30, 2024
- The filing serves to furnish the Earnings Press Release as Exhibit 99.1
- Company is an emerging growth company
Mobile Infrastructure Corporation announced the declaration of monthly dividends for its Series A and Series 1 Preferred Stock. The dividends are scheduled to be paid on or about November 12, 2024.
📋 Key Facts
- Series A Preferred Stock dividend: $4.791 per share.
- Series 1 Preferred Stock dividend: $4.583 per share.
- Record date for dividends: Close of business on October 28, 2024.
- Payment date: On or about November 12, 2024.
Mobile Infrastructure Corp issued 7,997,842 shares of common stock to HSCP Strategic III, L.P. on October 4, 2024. The issuance was made in lieu of cash as part of a redemption of limited liability company interests in its subsidiary.
🚩 Red Flags
- Equity dilution: Issuance of nearly 8 million shares to a single entity via private placement.
- Non-cash transaction: The use of equity instead of cash for redemptions can sometimes indicate liquidity constraints or a desire to preserve cash at the expense of existing shareholders.
📋 Key Facts
- Date of event: October 4, 2024
- Number of shares issued: 7,997,842 common stock shares
- Recipient: HSCP Strategic III, L.P.
- Transaction type: Private placement exempt from registration under Section 4(a)(2)
- Purpose: In lieu of cash payments for the redemption of 7,997,842 common units of Mobile Infra Operating Company, LLC.
Mobile Infrastructure Corp entered into a $40.4 million revolving credit facility with Harvest Small Cap Partners, L.P., which is considered a related-party transaction because the co-chair of the Board manages the lender's investment manager. The agreement includes high interest rates (15% per annum) and equity kickers in the form of common stock issuance.
🚩 Red Flags
- Related-party transaction involving a Board Co-Chair and the lender.
- High interest rate of 15.0% per annum suggests high cost of capital or perceived credit risk.
- Short maturity date (September 2025) creates significant refinancing risk in one year.
- Equity kickers (up to 500,000 total shares) lead to potential dilution for existing shareholders.
📋 Key Facts
- Entered into a $40.4 million revolving credit facility with Harvest Small Cap Partners, L.P. on September 11, 2024.
- Facility matures on September 11, 2025 (1-year term).
- Interest rate is set at 15.0% per annum, payable in arrears.
- Issuance of 250,000 shares of common stock to Lenders as consideration for the commitment.
- Additional 250,000 shares to be issued if $15.0 million or more is drawn from the facility.
- The transaction is a related-party transaction: Board Co-Chair Jeffrey Osher's firm (No Street Capital LLC) manages the Lender.
- Company authorized a $10,000,000 share repurchase program on September 11, 2024.
Mobile Infrastructure Corporation filed an 8-K to announce its earnings press release for the first fiscal quarter ended June 30, 2024. The filing serves as a formal notification of the release of financial results.
📋 Key Facts
- The company issued an Earnings Press Release on August 13, 2024.
- The reported period is the first fiscal quarter ended June 30, 2024.
- The filing includes Exhibit 99.1 containing the earnings press release.
Mobile Infrastructure Corporation held its 2024 annual meeting of stockholders on June 18, 2024. The meeting resulted in the election of seven directors and the ratification of Deloitte & Touche LLP as the company's independent auditor for the fiscal year ending December 31, 2024.
📋 Key Facts
- Annual Meeting held on June 18, 2024.
- Seven nominees elected to the Board of Directors: Manuel Chavez, III; Stephanie Hogue; David Garfinkle; Brad Greiwe; Danica Holley; Damon Jones; and Jeffrey B. Osher.
- Deloitte & Touche LLP ratified as independent registered public accounting firm for fiscal year ending Dec 31, 2024.
- Proposal 2 (Auditor Ratification) received 16,683,644 votes 'FOR'.
Mobile Infrastructure Corp announced the appointment of Paul Gohr as new CFO, effective May 16, 2024. The current President and CFO, Stephanie Hogue, will resign from her CFO role but remain with the company as President, Secretary, and Treasurer.
🚩 Red Flags
- CFO transition occurring simultaneously with the release of Q1 2024 financial results.
📋 Key Facts
- Paul Gohr appointed Chief Financial Officer effective May 16, 2024.
- Stephanie Hogue resigning as CFO; retaining roles of President, Secretary, and Treasurer.
- Mr. Gohr's compensation includes a $300,000 base salary and a $100,000 target annual bonus.
- Equity incentives include RSUs with a grant date fair market value of $400,000 and an additional 200,000 RSUs tied to stock price performance ($13.00 and $16.00 VWAP targets).
- Mr. Gohr previously served as Chief Accounting Officer at CECO Environmental Corp (NASDAQ: CECO).
Mobile Infrastructure Corp issued an 8-K to announce its financial results for the fourth fiscal quarter and full year ended December 31, 2023. The filing serves as a formal notification that earnings data has been released via press release.
📋 Key Facts
- Report date: March 14, 2024
- Reporting period: Fourth fiscal quarter and year ended December 31, 2023
- The company is an 'emerging growth company' as defined by the SEC.
- Financial results were released via press release (Exhibit 99.1).
Mobile Infrastructure Corporation entered into a Third Amendment to its Credit Agreement with KeyBank National Association on March 1, 2024. The amendment extends the maturity date of existing loans to June 30, 2025, subject to specific interest rate adjustments.
🚩 Red Flags
- Extension of debt maturity (indicates need for liquidity/refinancing runway).
- Requirement to prepay loans with proceeds from 'Capital Events' suggests lenders are securing repayment via equity or asset sales.
- Mandatory refinancing requirement for Chicago real property indicates lender-imposed pressure on asset liquidation/restructuring.
📋 Key Facts
- Maturity date extended to a maximum of June 30, 2025.
- Interest rate adjustments occur after October 1, 2024, and April 1, 2025.
- Borrower must work diligently to refinance real property in Chicago, Illinois.
- Requirement to prepay loans using net proceeds from any Capital Events.
- Pledge of equity interests in entities owning property in Clarksburg, WV and Milwaukee, WI to KeyBank.