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BYFC > SEC Filings for BYFC > Form 8-K on 4-Mar-2014All Recent SEC Filings

Show all filings for BROADWAY FINANCIAL CORP \DE\

Form 8-K for BROADWAY FINANCIAL CORP \DE\


4-Mar-2014

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

On March 4, 2014, the Company issued a press release announcing that the holders of the senior securities of the trust that holds the Company's Floating Rate Junior Subordinated Debentures due March 17, 2014 (the "Debentures") approved the Company's proposal to extend the maturity of the Debentures. Under the terms of the proposal, the Company offered to pay all accrued interest on the Debentures through to the closing of the modification of the indenture for the Debentures, plus up to $900,000, or 15%, of the principal amount of the Debentures at face value in consideration for extending the final maturity of the Debentures for ten years until March 17, 2024. The approval is conditioned upon various matters, including raising a minimum of $6 million of new equity capital, plus approvals by the Company's regulators and senior lender. A copy of the press release is attached as Exhibit 99.1 to this report on Form 8-K.



Item 9.01 Financial Statements and Exhibits.

99.1 Press release dated March 4, 2014


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