Urstadt Biddle Properties Inc. Announces Closing of Over-Allotment Option for Class A Common Stock Offering
August 02 2016 - 11:25AM
Business Wire
Urstadt Biddle Properties Inc. (the “Company”) (NYSE:UBA), a
self-administered equity real estate investment trust, today
announced that the underwriter of the previously announced public
offering of 2,750,000 shares of its Class A common stock has
exercised in full its option to purchase an additional 412,500
shares of Class A common stock from the Company, resulting in
approximately $9.6 million of additional proceeds to the Company
before offering expenses.
The Company intends to use the additional net proceeds for
general corporate purposes. Pending such use of the net proceeds,
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.
Urstadt Biddle Properties Inc. is a self-administered equity
real estate investment trust which owns or has equity interests in
74 properties containing approximately 5.0 million square feet of
space. Listed on the New York Stock Exchange since 1970, it
provides investors with a means of participating in ownership of
income-producing properties. It has paid 186 consecutive quarters
of uninterrupted dividends to its stockholders since its inception
and has raised total dividends to its stockholders for the last 22
consecutive years.
This press release contains statements that constitute
“forward-looking statements,” including with regard to 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
net proceeds of the offering will be used as indicated. These
statements 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160802006433/en/
Urstadt Biddle Properties Inc.Willing L. Biddle, President and
CEOorJohn T. Hayes, Senior Vice President & CFO203-863-8200
Urstadt Biddle Properties (NYSE:UBA)
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