Umh Properties, Inc 8-K, filed Sep 11, 2020
Umh Properties, Inc. (UMH)
About this 8-K
Umh Properties, Inc filed this 8-K on September 11, 2020.
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
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Item 7.01 Regulation FD Disclosure.
On September 11, 2020, the Company issued a press release announcing the redemption of all 3,800,669 issued and outstanding shares of its Series B Cumulative Redeemable Preferred Stock. The redemption date will be October 20, 2020.
The information being furnished pursuant to this Item 7.01, including Exhibits 99 to this report, shall not be deemed “filed” for any purpose, including for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in this report, including Exhibits 99, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, unless specifically incorporated by reference into any such filing. This report will not be deemed an admission as to the materiality of any information in this report that is required to be disclosed solely by Regulation FD.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99 | Press Release dated September 11, 2020. |
| 2 |
SIGNATURE
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.
| UMH Properties, Inc. | ||
| Date: September 11, 2020 | By: | /s/ Anna T. Chew |
| Name: | Anna T. Chew | |
| Title: | Vice President and Chief Financial Officer | |
| 3 |
Exhibit 99
UMH PROPERTIES, INC.
Juniper Business Plaza
3499 Route 9 North, Suite 3-C
Freehold, NJ 07728
(732) 577-9997
Fax (732) 577-9980
| FOR IMMEDIATE RELEASE | September 11, 2020 | |
| Contact: Nelli Madden | ||
| 732-577-9997 | ||
UMH PROPERTIES, INC. ANNOUNCES
REDEMPTION OF ALL OUTSTANDING 8.0% SERIES B PREFERRED STOCK
FREEHOLD, N.J., September 11, 2020. UMH Properties, Inc. (NYSE:UMH) (the “Company”) today announced that it will redeem all 3,800,669 issued and outstanding shares of its 8.0% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”) (CUSIP 903002301) on October 20, 2020 (the “Redemption Date”). The Series B Preferred Stock will be redeemed at a redemption price equal to the $25.00 per share liquidation preference of the Series B Preferred Stock plus accrued and unpaid dividends to, but not including, the Redemption Date in an amount of $0.2722 per share, for a total payment of $25.2722 per share (the “Redemption Price”).
After the Redemption Date, the Series B Preferred Stock will no longer be outstanding and all of the rights of the holders of the Series B Preferred Stock will terminate, except the right to receive the Redemption Price, without interest. Series B Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depositary Trust Company.
Because all of the issued and outstanding shares of Series B Preferred Stock are being redeemed, trading of the Series B Preferred Stock on the New York Stock Exchange (“NYSE”) will cease after the Redemption Date. The Series B Preferred Stock currently trades on the NYSE under the symbol “UMH.PRB”.
A NYSE Company: Symbol - UMH
since 1968
UMH PROPERTIES, INC.
Juniper Business Plaza
3499 Route 9 North, Suite 3-C
Freehold, NJ 07728
(732) 577-9997
Fax (732) 577-9980
The notice of redemption and related materials are being mailed to holders of record of Series B Preferred Stock on September 11, 2020. As specified in the notice of redemption, payment of the Redemption Price will be made only upon presentation and surrender of the certificates representing the Series B Preferred Stock to the redemption agent, American Stock Transfer & Trust Company, LLC. Questions regarding the redemption of the Series B Preferred Stock, or the redemption procedures, may be directed to American Stock Transfer & Trust Company, LLC at:
American Stock Transfer & Trust Company, LLC
Operations Center
Attention: Reorganization Department
6201 15th Avenue
Brooklyn, New York 11219
(877) 248-6417
ABOUT UMH PROPERTIES, INC.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 123 manufactured home communities with approximately 23,200 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland and Michigan. In addition, the Company owns a portfolio of REIT securities.
# # # # #
Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
A NYSE Company: Symbol - UMH
since 1968