Risk Factors Update Summary
- Failure to realize all expected benefits of the WMC acquisition could impact results and cash flows.
- Risk of adverse tax consequences if WMC fails to qualify as a REIT, potentially facing liability for U.S. federal income taxes at regular corporate rates and less cash available for operations and distributions.
- Increase in senior unsecured indebtedness from $86.25 million in 2023 to $79.12 million in 2024.
- Change in LIBOR transition timing from "after June 2023" to "beginning July 1, 2023," impacting the modification of LIBOR-based instruments.
- Transition of $93.2 million Series C Preferred Stock to a floating rate on September 15, 2024.
- Loss of exemption from regulation under the Investment Company Act could impose significant limits on operations.
- Ownership interest dilution risk due to conversion of Legacy WMC Convertible Notes, potentially causing share price decline.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1514281&owner=exclude
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