Current Report · Items 2.01 · 8-K
GLASSBRIDGE ENTERPRISES INC
Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets As previously disclosed, on December 29, 2023, GB HRP, LLC (“GB”), a wholly owned subsidiary of Glassbridge Enterprises, Inc. (the “Company”), entered into a series of agreements with Point Digital Finance, Inc.…
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Disclosure sections
Item 2.01Item 2.01 - Completion of Acquisition
Item
2.01 Completion of Acquisition or Disposition of Assets
As
previously disclosed, on December 29, 2023, GB HRP, LLC (“GB”), a wholly owned subsidiary of Glassbridge Enterprises, Inc.
(the “Company”), entered into a series of agreements with Point Digital Finance, Inc. (“Point”) pursuant to which
GB committed to purchase an aggregate amount of $100,000,000 in home equity interest option assets originated by Point, meeting certain
eligibility criteria on a servicing-retained basis through the use of a master titling trust.
On
May 23, 2025, in connection with a securitization transaction of the master titling trust, GB sold home equity interest option assets
for proceeds of approximately $23,400,000. After payment of expenses and amounts invested to purchase certain securities in the securitization
transaction, GB received cash proceeds in the amount of approximately $18,800,000.