Trinity Place Amends Agreement, Extends Deal Closing

Trinity Place Holdings Inc (TPHS) has released an update to notify the public and investors about an entry into a material definitive agreement.

Trinity Place Holdings Inc. has amended its Stock Purchase Agreement with TPHS Lender LLC and TPHS Investor LLC, extending the closing date for their deal to February 16, 2024, and updating the JV Operating Agreement to ensure directors’ and officers’ liability insurance is maintained. The JV Investor guarantees this obligation up to $1,120,000, secured against sales from specific properties. This strategic move aligns with the company’s efforts to secure its future, and stockholders are advised to review the definitive consent solicitation statement for detailed information.

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For a comprehensive understanding of the announcement, you can read the full document here.