logo
Share SHARE
FONT-SIZE Plus   Neg

UMH Properties Closes Offering Of 1.08 Mln Shares Of Preferred Stock

UMH Properties, Inc. (UMH) announced the closing of its sale of 1.08 million shares of its 8.25% Series A Cumulative Redeemable Preferred Stock at an offering price of $25.292 per share in its previously announced underwritten public offering.

The company said that those shares of Series A Preferred Stock form a single series with, have the same terms as, and vote as a single class with, the Company's outstanding Series A Preferred Stock, of which 1.34 millio shares were outstanding prior to this offering. The Series A Preferred Stock has a $25.00 liquidation value per share.

The company said that it received net proceeds from the offering, after deducting the underwriting discount and other estimated offering expenses, of approximately $26.1 million and intends to use the net proceeds to purchase additional properties in the ordinary course of business, including its pending acquisition, and for other general corporate purposes, including possible repayment of indebtedness.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Apple Inc. (AAPL) gained 5 percent in extended trading session after the tech giant reported a third-quarter profit and revenues that trumped Wall Street expectations driven by higher-than-expected iPhone sales. Although, Apple reported its second year-over-year decline in iPhone sales,... Micro-blogging site Twitter Inc. (TWTR), Tuesday reported a smaller loss for the second quarter, as revenues climbed 20 percent reflecting growth in its advertising business despite a continued poor growth in number of users. Adjusted earnings for the quarter trumped Wall Street expectations, while revenues... BlackBerry has launched its second Android smartphone DTEK50, which the struggling company touts as the most secure Android smartphone ever. DTEK50 is BlackBerry's second smartphone powered by Android, following the PRIV. The device actually shares its design and hardware specifications with the recently...
comments powered by Disqus
Follow RTT