Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Thu, December 2, 5:58 PM
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Slide #193. Urstadt Biddle Properties Inc. — Preferred Stock Offering
Urstadt Biddle Properties Inc. (NYSE:UBA)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
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. -updated 9/13- Urstadt Biddle Properties Inc. (NYSE:UBA), a self-administered equity real estate investment trust (the "Company"), today announced the pricing of its underwritten public offering of 4,000,000 shares of its 6.250% Series H Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for estimated net proceeds before expenses of approximately $96.850 million. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 600,000 shares of Series H Preferred Stock to cover overallotments, if any. The offering is subject to customary closing conditions and settlement is expected to occur on or about September 18, 2017. The Company intends to apply to list the Series H Preferred Stock on the NYSE under the symbol "UBPPRH".
Urstadt Biddle Properties is a real estate investment trust engaged in the acquisition, ownership and management of commercial real estate. Co.'s business is the ownership of real estate investments, which consist principally of investments in properties, with primary focus on neighborhood and community shopping centers in the metropolitan New York tri-state area outside of the City of New York. In addition to its business of owning and managing real estate, Co. is involved in the beer, wine and spirits retail business, through its subsidiaries. Each subsidiary corporation owns and operates a beer, wine and spirits retail store at one of Co.'s shopping centers.
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Buy (3.33 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com