Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

UMH Properties Closes Offering Of 1.08 Mln Shares Of Preferred Stock

RELATED NEWS
Trade UMH now with 

UMH Properties, Inc. (UMH: Quote) 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.

Click here to receive FREE breaking news email alerts for UMH Properties Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
With trading resuming following the long, holiday weekend, stocks showed a lack of direction throughout the trading session on Tuesday before ending the day mixed. The markets largely held on to the bulk of their recent gains. The Islamic State (IS), a Sunni extremist group previously known as Islamic State of Iraq and the Levant (ISIL), has released a video purporting to show the beheading of US journalist Steven Sotloff, media reports said Tuesday. According to reports, the video also showed a masked man threatening to execute a British man named David Haines. He also warned governments to stay away "this evil allian Less than a month after resigning from Congress, former House Majority Leader Eric Cantor, R-Virg., has made the move from Washington to Wall Street by joining boutique investment bank Moelis & Co. A statement from Moelis said Cantor will serve as Vice Chairman and Managing Director and also be elected to the company's Board of Directors.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.