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Benefit Street Partners Realty Trust enters stock purchase agreement

Benefit Street Partners Realty Trust, Inc. entered into a stock purchase agreement with an institutional investor on Sept. 11.

Under the agreement, the investor committed to purchase $5 million of shares of the company's new series C convertible preferred stock in one or more closings. It provides that the purchase price for the shares shall be equal to $5,000 per share plus accrued dividends.

The company plans to use the net proceeds to originate and acquire additional commercial real estate debt investments and for working capital and other general corporate purposes.