SmartStop Self Storage REIT, Inc 8-K, filed Oct 12, 2021
SmartStop Self Storage REIT, Inc. (SMA)
About this 8-K
SmartStop Self Storage REIT, Inc filed this 8-K on October 12, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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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
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Item 7.01.Regulation FD Disclosure.
On October 12, 2021, SmartStop Self Storage REIT, Inc. (the “Company”) sent a letter to its stockholders providing them with an update on the timing of the payment of their distributions to be paid in the month of October 2021. A copy of the letter is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein solely for purposes of this Item 7.01 disclosure.
Pursuant to the rules and regulations of the Securities and Exchange Commission, the information in this Item 7.01 disclosure, including Exhibit 99.1 and information set forth therein, is deemed to have been furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01Financial Statements and Exhibits.
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(d) Exhibits. |
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99.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
Signature(s)
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 hereunto duly authorized.
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SMARTSTOP SELF STORAGE REIT, Inc. |
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Date: October 12, 2021 |
By: |
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/s/ James R. Barry |
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James R. Barry |
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Chief Financial Officer and Treasurer |
Exhibit 99.1
October 12, 2021
Dear Stockholder:
Thank you for your continued investment in SmartStop Self Storage REIT, Inc. (“SmartStop”). We are writing today to inform you of an update to the timing of the payment of your October distribution as a result of our pending determination of an updated net asset value (“NAV”) per share.
As you are aware, our board of directors previously approved an estimated NAV of $10.40 per share for our common stock on April 20, 2020, and we are required to update our NAV periodically. We are in the final stages of completing an updated NAV calculation as of June 30, 2021, and as a result, we are delaying the payment of distributions by approximately one week for October 2021 only.
Accordingly, while you would have ordinarily received your next distribution payment on or about October 15, 2021, you will receive this next distribution payment on or about October 22, 2021. This change in the timing of the distribution payment will not affect the amount of the distribution payment—whether you have elected to receive cash or whether you are enrolled in our distribution reinvestment plan (“DRP”). If you are enrolled in the DRP, your distributions will be reinvested at a purchase price per share equal to the updated NAV. We will resume our regular mid-month schedule for the payment of distributions starting in November 2021.
If you have any questions or concerns regarding the foregoing, please reach out to our investor relations team.
On a separate matter, we would like to inform you that we continue to be excited about our performance and the direction of our company, particularly how well we were able to perform—and continue to perform—during the COVID-19 pandemic. If you would like to read more, please see our press release reporting second quarter earnings results issued on August 17, 2021.
Thank you again for your investment in SmartStop.
Continued successes,
H. Michael Schwartz
Chairman of the Board of Directors
Chief Executive Officer