Company: KBSR
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001482430-25-000021
Chunk: 206

Company: KBS Real Estate Investment Trust III, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 5
Chunk 206
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ITEM 5.      MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND

 ISSUER PURCHASES OF EQUITY SECURITIES

Stockholder Information

As of March 10, 2025, we had 148.5 million shares of common stock outstanding held by a total of approximately 29,149 stockholders.  The number of stockholders is based on the records of SS&C Global Investor & Distribution Solutions, Inc., which serves as our transfer agent.  

Market Information  

There is no public trading market for the shares of our common stock and we do not anticipate that there will be a public trading market for our shares.  We currently have no plans to list our shares on a national securities exchange.  Until our shares are listed, if ever, our stockholders may not sell their shares unless the buyer meets the applicable suitability and minimum purchase requirements.  Any sale must comply with applicable state and federal securities laws.  In addition, our charter prohibits the ownership of more than 9.8% of our stock by a single person, unless exempted by our board of directors.  Consequently, there is the risk that our stockholders may not be able to sell their shares at a time or price acceptable to them.  

We provide an estimated value per share to assist broker-dealers that participated in our now-terminated initial public offering in meeting their customer account statement reporting obligations under FINRA Rule 2231.  This valuation was performed in accordance with the provisions of and also to comply with the IPA Valuation Guidelines.  For this purpose, we estimated the value of the shares of our common stock as $3.89 per share as of December 31, 2024.  This estimated value per share is based on our board of directors’ approval on December 12, 2024 of an estimated value per share of our common stock of $3.89 based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding, all as of September 30, 2024, with the exception of adjustments to our net asset value to give effect to (i) the change in the estimated value of our investment in units of the SREIT (SGX-ST Ticker: OXMU) as of November 14, 2024, (ii) the contractual sales price, net of closing credits and disposition costs, of one property that was sold on November