Falcon's Beyond Global, Inc 8-K, filed Jan 16, 2024
Falcon's Beyond Global, Inc. (FBYD)
About this 8-K
Falcon's Beyond Global, Inc filed this 8-K on January 16, 2024, reporting on events of January 9, 2024.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Item 8.01. Other Events.
On January 9, 2024, Falcon’s Creative Group, LLC, a Delaware limited liability company (“FCG”), accounted for as an equity method investment by Falcon’s Beyond Global, Inc. (the “Registrant”), obtained a mortgage loan from Climate First Bank, a Florida banking corporation, in the principal amount of $6,180,000, for purposes of its acquisition of property in Orlando, Florida for a new headquarters for FCG to accommodate current employees and additional employees FCG intends to hire. The property, consisting of approximately 9.59 acres and a 57,000 square foot office building, was purchased from Valencia Community College in Orlando, Florida for a total purchase price of $10,300,000. The mortgage loan, which is prepayable without penalty, has an 8.75% interest rate for the first five years with an initial 18 month interest only period. The interest rate resets to the five year US Treasury plus 275 basis points after five years and shall remain fixed for the duration of the note.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: January 16, 2024 | FALCON’S BEYOND GLOBAL, INC. | |
| By: | /s/ Bruce A. Brown | |
| Name: | Bruce A. Brown | |
| Title: | Executive Vice President of Legal, General Counsel and Corporate Secretary | |
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