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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): April 8, 2022

 

 

 

iStar Inc.

(Exact name of registrant as specified in its charter)

 

Maryland   1-15371   95-6881527

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification Number)

 

1114 Avenue of the Americas, 39th Floor

New York, New York

  10036
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:  (212) 930-9400

 

 

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered

Common Stock

  STAR   New York Stock Exchange

8.00% Series D Cumulative Redeemable Preferred Stock, $0.001 par value

  STAR-PD   New York Stock Exchange

7.65% Series G Cumulative Redeemable Preferred Stock, $0.001 par value

  STAR-PG   New York Stock Exchange

7.50% Series I Cumulative Redeemable Preferred Stock, $0.001 par value

  STAR-PI   New York Stock Exchange

 

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).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

Item 3.02.     Unregistered Sales of Equity Securities.

 

On April 12, 2022, iStar Inc. completed separate, privately-negotiated transactions with holders of approximately $194.4 million aggregate principal amount of the company's 3.125% Convertible Senior Notes due 2022 in which the noteholders exchanged their convertible notes with the company for an aggregate of approximately13.75 million newly issued shares of the company's common stock and aggregate cash payments of approximately $14.2 million. The convertible notes received by the company were retired.

 

The exchanges of shares of common stock for convertible notes were made pursuant to the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended.

 

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SIGNATURE

 

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.
       
Date:   April 14, 2022 By:    /s/ BRETT ASNAS
      Brett Asnas
      Chief Financial Officer
      (principal financial officer)

 

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