Ursine Capital Opportunity Zone Fund
Ursine OZ Fund
Term Sheet:
THIS TERM SHEET SUMMARIZES THE PRINCIPAL TERMS OF THE PROPOSED SECURED DEBT FINANCING OF URSINE CAPITAL OZ FUND LLC (“COMPANY”). THIS TERM SHEET IS FOR DISCUSSION PURPOSES ONLY. THERE IS NO OBLIGATION ON THE PART OF ANY NEGOTIATING PARTY UNTIL ALL PARTIES SIGN A DEFINITIVE LOAN AGREEMENT. THE TRANSACTION CONTEMPLATED BY THIS TERM SHEET IS SUBJECT TO THE SATISFACTORY COMPLETION OF DUE DILIGENCE. THIS TERM SHEET DOES NOT CONSTITUTE EITHER AN OFFER TO SELL OR AN OFFER TO PURCHASE SECURITIES.
URSINE CAPITAL OZ FUND LLC COLLATERALIZED NOTE + EQUITY TERM SHEET
Issuer:
Ursine OZ Fund LLC
Suite C
404 N. Hershey Road
Bloomington, IL 61704
Tel (217)615-0844
www.ursinecapital.com
Instrument:
120-Month Collateralized Note, 5% initial ownership in the ventures + Conversion option for additional Equity in the ventures
Amount:
Up to $50,000,000 (USD)
$6,500,000 - Minimum
$50,000,000 - Maximum
Interest Rate:
24 Month payment free
12% per annum paid Bi-Annually
Collateral:
1st lien on all assets purchased by any of the ventures with funding from Ursine Capital
Use of proceeds Guaranty:
Minimum 80% of all funds raised by the offering will be used to finance projects in opportunity zones
Minimum 60% of all funds raised by the offering will be used to finance the ventures listed in the offering.
Note of terms from ventures:
Up to $50 million
12% Interest
24 Month payment free
120 Month Term
1st lien on all assets acquired with UROZ capital
Default Provisons:
In the event of an UROZ default, its Noteholders will receive 1% UROZ equity every month it is in default.
If the default is not cured in 12 months, UROZ will surrender all its equity to the Noteholders.
corporate Guarantee:
All ventures agrees to a corporate guaranteed repayment of all loaned principal and interest owed to UROZ within 120 months.
primary source of repayment:
80% of repayments will come from each venture's uplift in revenues
20% of repayments will come from the leasing payments of the real estate assets
Target 1st Closing Date:
August 1st 2021
Confidentiality:
The terms of the transaction are strictly confidential
Expenses:
Company and Investors shall bear their own transactional expenses, including any consultant, legal or advisory fees. Company is responsible for any underwriter/investment banker fee related to the capital raise on the transaction.
This term sheet and its formulas are the sole property of the Company. The above term sheet is contingent on the due diligence on the part of both Company and Investors These terms and conditions are applicable through 01-01-2021, and may be subject to change.
