Urstadt Biddle Properties Inc. Announces Offering of Series H Preferred Stock

World News: . []

Urstadt Biddle Properties Inc. (NYSE: UBA), a self-administered equity real estate investment trust (the “Company”), today announced the commencement of a public offering of its Series H Cumulative Redeemable Preferred Stock, par value $0.01 per share.

BMO Capital Markets Corp. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. D.A. Davidson & Co., J.J.B. Hilliard, W.L. Lyons, LLC, FBR Capital Markets & Co., a B. Riley Financial Company, BNY Mellon Capital Markets, LLC and Deutsche Bank Securities Inc. are acting as co-managers for the offering.

The Company intends to use a portion of the net proceeds from the offering to fund the redemption of all of the outstanding shares of its existing Series F preferred stock. The Company intends to use the remaining net proceeds for other general corporate purposes, which may include the repayment of outstanding indebtedness, the funding of capital improvements to the Company’s existing properties and the acquisition of additional properties. 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 Series H Cumulative Redeemable Preferred 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 BMO Capital Markets Corp., Attention: Syndicate Department, 3 Times Square, 25th Floor, New York, New York 10036 or by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com; or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, Minnesota 55402 or by telephone at (800) 645-3751 or by email at wfscustomerservice@wellsfargo.com.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 81 properties containing approximately 5.1 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 190 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 23 consecutive years.

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 from the offering. 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, or that the net proceeds from the offering will be used as indicated. Completion of the securities offering on the terms described, and the application of the net proceeds from the offering, 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.

More news and information about Urstadt Biddle Properties Inc.

Published By:

Business Wire: 14:13 GMT Wednesday 13th September 2017

Published: .

Search for other references to "urstadt" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2017. [Admin Only]
 
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.
 
Privacy Policy | Terms and Conditions | Contact Us
 

Advertising on SPi News: Information For Advertisers