Red Oak Capital Fund III, a Regulation A+ bond offering sponsored by Red Oak Capital Group, will reportedly redeem all of their outstanding 6.50% senior secured bonds (CUSIP Number: 75678YAA6) on September 15, 2022. The Series A bonds have an aggregate principal amount of $4.45 million and were originally scheduled for redemption on December 31, 2022.
Each Series A bond will be exchanged for a price of $1,013.54, which is equal to 100 percent of the principal amount plus an amount equal to all accrued and unpaid interest up to and including the redemption date.
“We are pleased to announce this early redemption to our investors,” said Ray Davis, chief strategy officer of Red Oak Capital Holdings. “Despite the pandemic and inflation-induced headwinds we’ve faced, we remain confident in both the quality of the securities in which we invest and the inherent strength of commercial real estate as an asset class.”
Red Oak Capital Fund III was formed in June 2019 to acquire and manage commercial real estate loans and securities and other real estate-related debt instruments. The fund sold out in 58 days after reaching the maximum statutory investment capacity of $50 million.
Red Oak Capital Holdings is a group of commercial real estate capital entities that lends and invests on commercial real estate, raising capital through retail and institutional channels.