Replies to post #162 on Gyrodyne, LLC (GYRO)

[Enterprising Investor]

Security Ownership

Gamco Asset Management Inc.
284,272
18.1%

Towerview LLC.
155,152
9.9%

Grantham, Mayo, Van Otterloo & Co., LLC
119,248
7.6%

MILFAM LLC
113,557
7.2%

Star Equity Fund LP
99,464
6.3%

D&O’s

Paul L. Lamb
67,801
4.3%

Jan Loeb
66,000
4.2%

Ronald J. Macklin
21,743
1.4%

Nader Salour
24,228
1.4%

Richard Smith
21,224
1.3

Peter Pitsiokos
0

Gary J. Fitlin - President, CEO, CFO and Treasuer
0

All executive officers and Directors as a group (7 persons)
200,996
12.8%

[Enterprising Investor]

Term Mortgage Loan (1/03/24)

As previously reported in Gyrodyne, LLC’s (the “Company”) Registration Statement on Form S-1 filed with the Securities and Exchange Commission on December 29, 2023, the Company, through its subsidiaries GSD Cortlandt, LLC (“GSD Cortlandt”) and Buttonwood Acquisition, LLC (“Buttonwood”), secured a term mortgage loan (the “Mortgage Loan”) on December 27, 2023 in the principal amount of $1,500,000 with LLYR Resources, LLC. The net proceeds of the Mortgage Loan will be used for general working capital. The Mortgage Loan is unconditionally and irrevocably guaranteed by the Company. The term of the Mortgage Loan is two years. Until the maturity date, the Mortgage Loan bears interest at a floating interest rate of 1.5% per annum in excess of the Wall Street Prime Rate, with such interest payable monthly, which may be prepaid, in whole or in part, at any time, without payment of a prepayment fee.

The Mortgage Loan is secured by a first mortgage in the amount of $1,500,000 on the interests of GSD Cortlandt in 1989 Crompond Road and 1987 Crompond Road in Cortlandt Manor, New York, and the interests of Buttonwood in 206 Buttonwood Avenue and certain vacant land off of Buttonwood Road in Cortlandt Manor, New York.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1589061/000143774924000422/gyrllc20240103_8k.htm

[Enterprising Investor]

Gyrodyne Announces Record Date for Proposed Rights Offering (1/22/24)

ST. JAMES, N.Y., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Gyrodyne, LLC (“Gyrodyne” or the “Company”) (NASDAQ: GYRO), an owner and manager of a diversified portfolio of real estate properties, today announced that the record date for its proposed rights offering is January 29, 2024 at 5:00 p.m. Eastern Time (the “Record Date”).

As previously announced, the Company intends to raise up to $5 million in aggregate gross proceeds by way of a rights offering where its existing shareholders as of the Record Date will be granted rights to purchase shares of the Company’s common stock (the “Rights Offering”).

The Company filed a registration statement (File No. 333-276312) (the “Registration Statement”) with respect to the proposed Rights Offering with the Securities and Exchange Commission (the “SEC”) on December 29, 2023.

In the Rights Offering, the Company will distribute to holders of Gyrodyne’s common shares non-transferable subscription rights to purchase up to an aggregate of 625,000 shares of common stock at a subscription price of $8.00 per share. Each right consists of a basic subscription privilege and an oversubscription privilege. The rights under the basic subscription privilege will be distributed in proportion to shareholders’ holdings on the Record Date. Shareholders will receive one subscription right for each five shares held. Each whole subscription right gives the shareholders the opportunity to purchase two of the Company’s common shares for $8.00 per share. If a shareholder exercises his or her basic subscription right in full, and other shareholders do not, such shareholder will be entitled to an oversubscription privilege to purchase a portion of the unsubscribed shares at the subscription price, subject to proration and certain limitations.

The Company expects to use the net proceeds received from the rights offering to complete the pursuit of entitlements on the Company’s Flowerfield and Cortlandt Manor properties, for litigation fees and expenses in the Article 78 proceeding, for property purchase agreement negotiation and enforcement, for necessary capital improvements in the Company’s real estate portfolio, and for general working capital.

Further details on the terms of the Rights Offering and the procedures pursuant to which eligible shareholders can exercise their rights, including any changes to the dates included in this press release, will be announced before the commencement of the Rights Offering.

No Rights Offering will be made until the Company announces the definitive terms of the Rights Offering and the Registration Statement incorporating those terms is declared effective by the SEC.

About Gyrodyne

Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties comprising office, industrial and service-oriented properties in the New York metropolitan area. The Company owns a 63-acre site approximately 50 miles east of New York City on the north shore of Long Island, which includes industrial and office buildings and undeveloped property, and a medical office park in Cortlandt Manor, New York, both of which are the subject of plans to seek value-enhancing entitlements. The Company's common shares are traded on the NASDAQ Capital Market under the symbol GYRO. Additional information about the Company may be found on its web site at www.gyrodyne.com.

https://www.globenewswire.com/news-release/2024/01/22/2813249/0/en/GYRODYNE-ANNOUNCES-RECORD-DATE-FOR-PROPOSED-RIGHTS-OFFERING.html