Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): December 4, 2014

VESTIN REALTY MORTGAGE I, INC.

(Exact name of registrant as specified in its charter)

Maryland	333-125347	20-4028839
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

8880 W. SUNSET ROAD #200

LAS VEGAS, NEVADA 89148

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: [phone]

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

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Item 8.01  Other Events

On December 4, 2014, Vestin Realty Mortgage I, Inc. (the “Company”) issued a press release announcing a 1-for-4 reverse stock split of the Company’s issued and outstanding shares of common stock.  The reverse stock split is expected to take effect at approximately 5:01 p.m. (EST) on December 5, 2014. The press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

	(d)	Exhibits.
Exhibit No.		Description
	99.1	Press Release of Vestin Realty Mortgage I, Inc. dated December 4, 2014.

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		VESTIN REALTY MORTGAGE I, INC.
	By	Vestin Mortgage, LLC, its sole manager
Date:  December 4, 2014	By	/s/ Tracee Gress
		Tracee Gress
		Chief Financial Officer

 

 

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EXHIBIT INDEX

 

	(d)	Exhibits.
Exhibit No.		Description
	99.1	Press Release of Vestin Realty Mortgage I, Inc. dated December 4, 2014.

 

VESTIN REALTY MORTGAGE I, INC. INTENDS TO EFFECT A REVERSE STOCK SPLIT

 

Las Vegas, NV – December 4, 2014 –Vestin Realty Mortgage I, Inc. (NASDAQ: VRTA) (the “Company”) today announced that its board of directors has approved a 1-for-4 reverse stock split of the Company’s issued and outstanding shares of common stock.  The reverse stock split is expected to take effect at approximately 5:01 p.m. (EST) on December 5, 2014 (the “Effective Date”).

 

Accordingly, as a result of the reverse stock split, every 4 shares of issued and outstanding common stock will be converted into 1 share of common stock.   No fractional shares will be issued in connection with the reverse stock split and the number of authorized shares and the par value per share will remain unchanged.  Each stockholder otherwise entitled to a fractional share will be entitled to receive cash in an amount equal to the product of the fraction of a share multiplied by the closing price of the Company’s common stock as reported by the NASDAQ Stock Market LLC on the Effective Date.  The Company’s common stock will begin trading on the NASDAQ Stock Market LLC on a reverse split-adjusted basis when the market opens on December 8, 2014.

 

The Company’s stockholders will be receiving information from Broadridge Corporate Issuer Solutions, Inc., the Company’s transfer agent, regarding the mechanics of exchanging their stock certificates and receiving cash in lieu of any fractional shares.

 

About Vestin Realty Mortgage I

 

Vestin Realty Mortgage I, Inc. is a Maryland corporation that invests in loans secured by real estate through deeds of trust or mortgages.  As of September 30, 2014, Vestin Realty Mortgage I, Inc. had assets of approximately $21 million.  Vestin Realty Mortgage I, Inc. is managed by Vestin Mortgage, LLC.  Since 1995, Vestin Mortgage LLC. has facilitated more than $2.0 billion in lending transactions.

 

Forward-looking Statements

 

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to future financial results and business prospects. The forward-looking statements contained in this press release are subject to certain risks and uncertainties including, but not limited to, the risks indicated from time to time in the Company’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.

 

MEDIA CONTACT:

Jill Swartz

Spotlight Communications

[phone] ext. 701

[e-mail]