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Terra Capital Partners enters securities purchase agreement with Axar affiliate

Terra Income Fund 6 Inc's board approved a new advisory agreement with Terra Income Advisors LLC and Terra Capital Markets LLC after their parent company, Terra Capital Partners LLC, entered into a securities purchase agreement with Axar Terra LLC, an affiliate of Axar Capital Management LP.

Under the securities purchase agreement, Axar initially acquired a 49% non-voting economic interest in Terra Income Advisors. After certain conditions are met, Axar will acquire an additional 16.7% economic interest in the adviser and the entire resulting 65.7% stake will become a voting interest.

Axar will also acquire a 65.7% voting interest in Terra Capital Markets.

Terra Income Advisors provides investment advisory services to the company, while Terra Capital Markets is responsible for distributing on a "best efforts" basis a maximum of $1.0 billion of the company's common stock in a continuous public offering.