PLYM-A Plymouth Industrial REIT Inc

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

August 2, 2023

Date of Report (Date of earliest event reported)

 

PLYMOUTH INDUSTRIAL REIT, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

maryland		001-38106		27-5466153
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

20 Custom House Street, 11th Floor

Boston, MA 02110

(Address of Principal Executive Offices) (Zip Code)

(617) 340-3814

(Registrant’s Telephone Number, Including Area Code)

 

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 (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in 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.   ☐

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common Stock, par value $0.01 per share	PLYM	New York Stock Exchange
7.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share	PLYM-PrA	NYSE American

 

Item 8.01

Other Events

 

On August 2, 2023, Plymouth Industrial REIT, Inc. (the “Company”) issued a press release announcing that it had called for redemption all of the outstanding shares of its 7.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) on September 6, 2023 (the “Redemption Date”). The shares of Series A Preferred Stock are currently traded on the NYSE American exchange under the symbol “PLYM-PrA” (CUSIP No. 729640201).

 

The Series A Preferred Stock will be redeemed for a redemption price equal to $25.00 per share (the “Redemption Payment”) for a total Redemption Payment of $48.8 million. From and after the Redemption Date, all dividends will cease to accrue on the redeemed shares of Series A Preferred Stock.

 

On September 6, 2023, a dividend of $0.34647 per share of Series A Preferred Stock will paid to the record holders at the close of business on August 25, 2023. All shares of Series A Preferred Stock are held in book-entry form through The Depository Trust Company.

 

A copy of the press release is attached hereto at Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01

Financial Statements and Exhibits.

 

(d)       Exhibits:

 

Exhibit No.		Description
99.1		Plymouth Industrial REIT, Inc. press release dated August 2, 2023
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

		PLYMOUTH INDUSTRIAL REIT, INC.
Date: August 2, 2023		By:		/s/ Jeffrey E. Witherell
				Jeffrey E. Witherell
				Chief Executive Officer

 

 

Exhibit 99.1

 

 

 

Plymouth Industrial REIT Announces Redemption of Series A Preferred Stock

 

BOSTON—(August 2, 2023) Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced that, on September 6, 2023, it will redeem all of its outstanding 7.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) for a total redemption payment of $48.8 million. The dividend rate of the securities to be redeemed is 7.50%.

 

The shares of Series A Preferred Stock are currently traded on the NYSE American exchange under the symbol “PLYM-PrA” (CUSIP No. 729640201). The shares of Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share.

 

On September 6, 2023, a dividend in the amount of $0.34647 per share of Series A Preferred Stock will be paid in cash to holders of record at the close of business on August 25, 2023. On and after the redemption date, the shares of Series A Preferred Stock will no longer be deemed outstanding, and no further dividends will be declared or payable on them.

 

The shares of Series A Preferred Stock are held through The Depository Trust Company (DTC) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Continental Stock Transfer & Trust Company, Plymouth’s paying agent for the Series A Preferred Stock. Questions about the notice of redemption and related materials should be directed to Continental Stock Transfer by mail or overnight courier at 1 State Street, 30^th Floor, New York, NY 10004, Attention: Corporate Action, or by telephone at 917-262-2378 (Corporate Action department).

 

About Plymouth

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership, and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible, and safe.

Forward-Looking Statements

This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives, and strategies, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

###

 

 

Contact:
Tripp Sullivan
SCR Partners
(615) 942-7077
TSullivan@scr-ir.com

 

v3.23.2

Cover	Aug. 02, 2023
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 02, 2023
Entity File Number	001-38106
Entity Registrant Name	PLYMOUTH INDUSTRIAL REIT, INC.
Entity Central Index Key	0001515816
Entity Tax Identification Number	27-5466153
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	20 Custom House Street
Entity Address, Address Line Two	11th Floor
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	(617)
Local Phone Number	340-3814
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock, par value $0.01 per share
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	PLYM
Security Exchange Name	NYSE
7.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share
Title of 12(b) Security	7.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share
Trading Symbol	PLYM-PrA
Security Exchange Name	NYSEAMER

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