Form 8-K - Current report
February 29 2024 - 8:30AM
Edgar (US Regulatory)
false 0001735184 0001735184 2024-02-29 2024-02-29
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 29, 2024
Retail Value Inc.
(Exact name of Registrant as Specified in Its Charter)
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Ohio |
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1-38517 |
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82-4182996 |
(State or Other Jurisdiction of Incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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3300 Enterprise Parkway Beachwood, Ohio |
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44122 |
(Address of Principal Executive Offices) |
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(Zip Code) |
Registrant’s Telephone Number, Including Area Code: (216) 755-5500
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol |
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Name of each exchange on which registered |
N/A |
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N/A |
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N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
On February 29, 2024, Retail Value Inc. (the “Company”) issued a press release (the “Press Release”) to announce that its Board of Directors had declared a distribution of $0.11 per share payable on April 3, 2024 to the holders of common shares as of 5:00 p.m. Eastern Time on April 2, 2024. A copy of the Company’s Press Release is furnished hereto as Exhibit 99.1 which is incorporated herein by reference.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Retail Value Inc. |
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By: |
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/s/ Aaron Kitlowski |
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Name: |
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Aaron Kitlowski |
Date: February 29, 2024 |
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Title: |
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Executive Vice President and Corporate Secretary |
Exhibit 99.1
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Retail Value Inc. 3300 Enterprise
Parkway Beachwood, OH 44122 216-755-5500 |
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For additional information:
ir@retailvalueinc.com |
FOR IMMEDIATE RELEASE:
Retail Value Inc. to Make Liquidating Distribution
BEACHWOOD, Ohio, February 29, 2024 - Retail Value Inc. (RVI or the Company) today announced that the Companys Board
of Directors authorized a liquidating distribution of $0.11 per share payable on April 3, 2024 to the holders of common shares as of 5:00 p.m. Eastern Time on April 2, 2024. The distribution will be funded with cash on hand.
Subject to uncertainties inherent in the winding-up of the Company, RVI may make one or more additional liquidating
distributions. However, no assurances can be made as to the ultimate amounts to be distributed, if any, or the timing of any such distributions.
About
RVI
RVI has completed the sale of all of its real estate holdings. On June 30, 2022, RVI filed a certificate of dissolution with the Ohio
Secretary of State and the Company is in the process of winding up its business. RVI is managed by one or more subsidiaries of SITE Centers Corp. Additional information about RVI is available at www.retailvalueinc.com.
Safe Harbor
The Company considers information in this
press release that relates to expectations for future periods to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the
Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are
not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements, including the amount of costs
and expenses relating to the wind-up of the Companys business; the Companys ability to collect amounts owed to it by third parties; and the cost and outcome of any legal proceedings that may arise
with respect to the Company. The Company undertakes no obligation to revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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