Filing Analysis
Manhattan Bridge Capital, Inc. reported the final voting results from its 2026 Annual Meeting of Shareholders held on June 18, 2026. Shareholders elected the board of directors and approved the appointment of Hoberman & Lesser, LLP as independent auditors for the 2026 fiscal year.
📋 Key Facts
- Annual Meeting of Shareholders held on June 18, 2026.
- Six directors were elected: Assaf Ran, Lyron Bentovim, Eran Goldshmit, Michael Jackson, Vanessa Kao, and Phillip Michals.
- Hoberman & Lesser, LLP was approved as the independent auditor for the fiscal year ending December 31, 2026, with 8,255,336 votes in favor.
- Voting results are reported as final.
Manhattan Bridge Capital entered into Amendment No. 9 of its credit agreement, extending the term to March 31, 2026, and facilitating the departure of Mizrahi Tefahot Bank Ltd. as a lender. Webster Bank increased its revolving credit commitment from $15 million to $22.5 million to reallocate the departing lender's portion.
🚩 Red Flags
- The extension is extremely short-term (approximately five weeks), which may indicate ongoing refinancing pressure or difficulty securing a long-term agreement.
- Departure of a lender (Mizrahi Tefahot Bank Ltd.) from the credit facility.
📋 Key Facts
- Amendment No. 9 to the Amended and Restated Credit and Security Agreement was signed on February 24, 2026.
- The credit facility term was extended to a very short-term date of March 31, 2026.
- Mizrahi Tefahot Bank Ltd. departed as a lender under the agreement.
- Webster Bank, National Association increased its revolving credit note principal from $15,000,000 to $22,500,000.
- The company executed a Second Amended and Restated Revolving Credit Note in favor of Webster Bank.
Manhattan Bridge Capital, Inc. and its subsidiary MBC Funding II Corp. entered into a new $10 million credit facility with Valley National Bank and simultaneously completed the full redemption of all outstanding 6% Senior Secured Notes due April 2026.
🚩 Red Flags
- Multiple items in a single filing (Item 1.01, 1.02, 2.03, and 8.01) indicating significant structural changes.
- The company is actively restructuring its debt profile, replacing older notes with a new secured line of credit.
📋 Key Facts
- Entered into a $10,000,000 line of credit agreement with Valley National Bank on December 12, 2025.
- The new Credit Facility is secured by an all-assets Security Agreement and includes a limited guaranty from CEO Assaf Ran capped at $500,000.
- Interest rate for the new facility is Term SOFR + 2.95% (subject to a 3.00% floor).
- The Credit Facility matures on December 12, 2027, or upon event of default.
- Completed full redemption of $6,000,000 in 6.00% Senior Secured Notes (due April 2026) at 100% of principal plus accrued interest on December 15, 2025.
- Amended existing credit agreement with Webster Bank to permit the new Valley National Bank facility.
Manhattan Bridge Capital, Inc. and its subsidiary MBC Funding II Corp. have announced the full redemption of all outstanding 6.00% Senior Secured Notes due April 22, 2026. The notes, totaling $6,000,000 in principal, will be redeemed on December 15, 2025.
🚩 Red Flags
- None identified; full redemption of debt is generally viewed as a positive liquidity event or refinancing indicator.
📋 Key Facts
- Redemption Date: December 15, 2025
- Redemption Price: 100% of the outstanding principal amount plus accrued and unpaid interest
- Aggregate Principal Amount: $6,000,000
- Note Interest Rate: 6.00% per annum, payable monthly
- The notes (trading under symbol LOAN/26) will be delisted from the NYSE American upon completion of the redemption.
Manhattan Bridge Capital, Inc. announced that its Board of Directors has authorized a share buyback program for up to 100,000 shares of common stock.
📋 Key Facts
- Board authorization granted on November 20, 2025.
- Program allows for the purchase of up to 100,000 shares of common stock.
- Repurchases may occur via open market transactions or privately negotiated transactions.
- The program expires in 12 months from the date of authorization.
Manhattan Bridge Capital, Inc. reported the final voting results from its 2025 Annual Meeting of Shareholders held on June 18, 2025.
📋 Key Facts
- Election of six directors: Assaf Ran, Lyron Bentovim, Eran Goldshmit, Michael Jackson, Vanessa Kao, and Phillip Michals.
- Shareholders approved the appointment of Hoberman & Lesser, LLP as independent auditors for fiscal year 2025.
- Advisory vote on executive compensation frequency resulted in a preference for 'Three Years', meaning the next non-binding vote will occur at the 2028 annual meeting.
Manhattan Bridge Capital, Inc. reported the results of its 2024 Annual Meeting of Shareholders held on June 20, 2024. The meeting included the election of six directors and the advisory approval of Hoberman & Lesser, LLP as independent auditors.
📋 Key Facts
- The 2024 Annual Meeting was held on June 20, 2024.
- Six directors were elected: Assaf Ran, Lyron Bentovim, Eran Goldshmit, Michael Jackson, Vanessa Kao, and Phillip Michals.
- Shareholders advisory approved the appointment of Hoberman & Lesser, LLP as independent auditors for the fiscal year ending December 31, 2024.
- Voting results were finalized on June 20, 2024.