Terra Property Trust, Inc.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 7, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2026-03-31; filed 2026-05-14.
0001674356-26-000014
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-08-07.
0001674356-26-000020
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 8 previous paragraphs and 5 current paragraphs.
3 unchanged; 1 reworded; 1 added; 4 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
None of our officers and directors entered into, modified or terminated any “Rule 10b5-1 trading arrangements” or “non-Rule 10b5-1 trading arrangements” (each as defined in Item 408(c) of Regulation S-K) during the quarter ended June 30, 2026.
Removed paragraphs (4)
Previous report
Limited participation in the Exchange Offer (as defined in Item 2 hereof) could result in us defaulting on the 6.00% Senior Notes Due 2026 that remain outstanding after such Exchange Offer is completed.
Previous report
Participation in the Exchange Offer may be limited. If only a small portion of the 6.00% Senior Notes Due 2026 are exchanged pursuant to the Exchange Offer, a significant amount of the 6.00% Senior Notes Due 2026 could remain outstanding after such Exchange Offer is completed. We intend to repay the 6.00% Senior Notes Due 2026 that are not exchanged in the
Previous report
Exchange Offer through ordinary course loan repayments, real estate owned and loan sales, receipt of distributions from equity interests in unconsolidated investments, deferral of asset management fees and operating expenses reimbursement payments to the Manager and may also use debt or equity capital sources or facilities. However, there can be no assurance that we will have sufficient liquidity or be able to obtain additional financing to repay or refinance any 6.00% Senior Notes Due 2026 that remain outstanding at their maturity on June 30, 2026. We had cash and cash equivalents of approximately $5.0 million as of March 31, 2026. Our ability to repay or refinance these notes will depend on a number of factors, including our ability to generate liquidity through ordinary course loan repayments, asset sales and distributions, deferral of management fees and expense reimbursement payments to the Manager, our available liquidity, our ability to access capital markets, the performance and valuation of our assets and general market conditions. If we are unable to obtain additional financing, refinance the 6.00% Senior Notes Due 2026 or otherwise generate sufficient liquidity prior to maturity, we could default on the 6.00% Senior Notes Due 2026, which could materially adversely affect our business, financial condition, results of operations and cash flows. Therefore, substantial doubt about the Company’s ability to continue as a going concern exists. The consolidated financial statements have been prepared in accordance with U.S. GAAP assuming the Company will continue as a going concern. The consolidated financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. If we are unable to continue as a going concern, we may have to liquidate our assets and may receive less than the value at which those assets are carried on our financial statements, and it is likely that our investors will lose all or a part of their investment. In addition, if there remains substantial doubt about our ability to continue as a going concern, investors or other financing sources may be unwilling to provide additional funding to us on commercially reasonable terms, or at all.
Reworded paragraphs (1)
Previous wording
Our business, reputation, results of operations and financial condition can be materially and adversely affected by a number of factors, whether currently known or unknown, including those described in Part I, Item 1A of our annual report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors.” Except as set forth below, there have been no material changes to our risk factors since the filing of our annual report on Form 10-K for the year ended December 31, 2025.
Current wording
Our business, reputation, results of operations and financial condition can be materially and adversely affected by a number of factors, whether currently known or unknown, including those described in Part I, Item 1A of our annual report on Form 10-K for the year ended December 31, 2025 under the heading “Risk Factors.” There have been no material changes to our risk factors since the filing of our annual report on Form 10-K for the year ended December 31, 2025.