Urstadt Biddle Properties Inc. Announces Offering of 2,500,000 Shares of Class A Common Stock
October 28 2014 - 4:15PM
Business Wire
Urstadt Biddle Properties Inc. (the “Company”) (NYSE:UBA), a
self-administered equity real estate investment trust, announced
today that it is offering 2,500,000 shares of its Class A common
stock in a public offering. In connection with the offering, the
Company intends to grant the underwriter an option for 30 days to
purchase an additional 375,000 shares of its Class A common
stock.
Deutsche Bank Securities Inc. is acting as sole book-running
manager for the offering.
The Company intends to use the net proceeds to fund a portion of
the proposed acquisition of four retail shopping centers located in
the Company’s target market of the metropolitan New York tri-state
area outside of the City of New York. Pending the use of the net
proceeds as described above, the Company may use the net proceeds
to make investments in short-term income-producing securities that
are consistent with its qualification as a REIT.
All shares of Class A common stock will be offered under the
Company’s existing shelf registration statement filed with the
Securities and Exchange Commission. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction. A copy of
the prospectus relating to these securities may be obtained, when
available, by contacting Deutsche Bank Securities Inc., Attn:
Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by
calling 1-800-503-4611 or by emailing prospectus.cpdg@db.com.
Urstadt Biddle Properties Inc. is a self-administered equity
real estate investment trust providing investors with a means of
participating in ownership of income-producing properties with the
liquidity of being listed on the New York Stock Exchange since
1970. Urstadt Biddle Properties Inc. owns or has equity interests
in 69 properties containing approximately 4.9 million square feet
of space and has paid 179 consecutive quarters of uninterrupted
dividends to its shareholders since its inception.
This press release contains statements that constitute
“forward-looking statements,” including with regard to the
Company’s securities offering and the anticipated use of the net
proceeds. These statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
No assurance can be given that the securities offering discussed
above will be completed on the terms described, or at all, that the
acquisition will be completed, or that the net proceeds of the
offering will be used as indicated. Completion of the securities
offering on the terms described, and the application of net
proceeds, are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in or
incorporated by reference into the Risk Factors section of the
Company’s Registration Statement on Form S-3. Copies are available
on the SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
Urstadt Biddle Properties Inc.Willing L. Biddle, President and
CEOJohn T. Hayes, CFO203-863-8200
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