M&A - Zoned Properties, Inc.

Form Type: 8-K

Filing Date: 2025-04-10

Corporate Action: Acquisition

Type: New

Accession Number: 000121390025030645

Filing Summary: On April 4, 2025, ZP OH Columbus, LLC, an affiliate of Zoned Properties, Inc., completed the acquisition of commercial real estate located at 601 S. High Street, Columbus, OH. In connection with this acquisition, the Company provided a Commercial Guaranty to First Fidelity Bank which includes standard representations and warranties. Additionally, a Business Loan Agreement was entered into with First Fidelity for $1,500,000 to finance the property purchase, with the Columbus Property acting as collateral for the loan. The Company has guaranteed the loan through the Commercial Guaranty, although its fair value is considered nominal since the property value exceeds the loan amount. Relevant lease and rent rights associated with the property have also been granted to secure the loan obligations.

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