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Ravelin Properties REIT Announces Expected Default on Upcoming Maturity of 9.00% Debentures

By The Northwire Desk — AI Analysis Feb 20, 2026 · 17:01 RPR · 0.16
RPR · Price

Executive Summary

  • Ravelin Properties REIT announced it does not expect to make principal or interest payments on its 9.00% convertible unsecured subordinated debentures when they mature on February 28, 2026.
  • The debentures will be halted at market open and delisted on March 2, 2026; the REIT is in default on interest payments since March 1, 2024.
  • No restructuring agreement has been reached, raising significant doubt about the REIT’s ability to continue as a going concern.

Key Details

  • Maturity & Payment Terms: 9% Debentures mature February 28, 2026; repayment price set at $1,180 per $1,000 principal.
  • Outstanding Amounts: Aggregate principal of $28,750,000 plus accrued/unpaid interest of $5,175,000 as of the announcement date.
  • Trading Halt & Delisting: Debentures (ticker “RPR.DB”) will be halted at market open on the maturity date and delisted at close of trading on March 2, 2026.
  • Default History: REIT has been in default on interest payments since March 1, 2024.
  • Current Status: The REIT is exploring alternatives but has not reached any agreement with stakeholders; no assurance of successful restructuring or additional financing.
  • Going‑Concern Risk: Management highlighted material uncertainty regarding the ability to obtain funding needed to continue operations.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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