UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Item 8.01 | Other Events. |
iStar Inc. reported that it has commenced a solicitation of holders of its outstanding 4.75% Senior Notes due 2024, 4.25% Senior Notes due 2025 and 5.50% Senior Notes due 2026 to clearly align certain provisions of the indentures governing the notes with the potential sale of the Company's net lease assets, as the Company continues to execute its stated corporate strategy to grow its ground lease and ground lease adjacent businesses and simplify its portfolio through sales of other assets. The Company previously announced on July 6, 2021 that it intended to explore market interest for possible sales of its net lease assets. That process remains ongoing. There can be no assurance as to whether iStar will sell some, all or none of its net lease assets, or as to the timing and terms of any sales.
The consent solicitation is subject to, and conditioned upon, among other things, the receipt of consents from holders of a majority in principal amount of each series of notes referenced above then outstanding voting as a single class. Copies of the consent solicitation statement are available to noteholders from D.F. King & Co. Inc., the tabulation and information agent for the consent solicitation.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| iStar Inc. | ||||
| By: | /s/ Jay Sugarman | |||
| Name: | Jay Sugarman | |||
| Title: | Chairman and Chief Executive Officer | |||
| Date: | October 21, 2021 | |||
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