Modiv Inc. Announces Pricing of a Public Offering of Common Stock
11 February 2022 - 9:53AM
Business Wire
Modiv Inc. (“Modiv”), an internally managed real estate
investment trust that acquires, owns and manages single-tenant
net-lease industrial, retail and office real estate with a focus on
strategically important and mission critical properties, today
announced the pricing of an underwritten public offering of 40,000
shares of its Class C Common Stock at a price to the public of
$25.00 per share. The shares of Class C Common Stock are expected
to begin trading on February 11, 2022, on the New York Stock
Exchange (“NYSE”) under the ticker symbol “MDV,” and the closing of
the offering is expected to occur on February 15, 2022, subject to
customary closing conditions. The purpose of this offering is to
facilitate the listing of Modiv’s Class C Common Stock previously
raised via crowdfunding technology.
Upon completion of the offering, Modiv will have 7,561,211
shares of Class C Common Stock outstanding that will be freely
tradeable after the listing, including 63,921 shares of its Class S
Common Stock that will automatically convert into Class C Common
Stock upon the listing. Also, in connection with the listing of the
Class C Common Stock, the ticker symbol for shares of Modiv’s
Series A Preferred Stock will be changed from “MDVA” to
“MDV.PRA”.
The bookrunning manager for the offering is B. Riley Securities,
Inc.
This offering is being made only by means of a prospectus.
Copies of the final prospectus relating to these securities, when
available, may be obtained from B. Riley Securities, Inc. You
should direct any requests to B. Riley Securities, Inc., Attention:
Prospectus Department, 1300 17th Street North, Suite 1300,
Arlington, Virginia 22209, by telephone at (703) 312-9580 or by
email at prospectuses@brileyfin.com. You may also obtain a copy of
the prospectus and other documents the Company has filed with the
Securities and Exchange Commission (“SEC”) for free by visiting the
SEC’s website at http://www.sec.gov.
A registration statement relating to these securities was
declared effective by the SEC on February 10, 2022. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy the securities described above, nor shall there be
any sale of such securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction.
About Modiv Modiv Inc. is a public REIT that acquires,
owns and manages single-tenant net-lease industrial, retail and
office real estate throughout the United States, with a focus on
strategically important and mission critical properties. Driven by
innovation, an investor-first focus and an experienced management
team, Modiv leveraged crowdfunding technology to create a $500
million real estate fund comprising 2.3 million square feet of
income-producing real estate.
Forward-looking Statements This press release contains
certain forward-looking statements which are based upon the
Company's current expectations and are inherently uncertain,
including forward-looking statements with respect to the offering
and trading of shares of the Company’s Class C common stock on the
NYSE. Any such statements other than statements of historical fact
are likely to be affected by other unknowable future events and
conditions, including elements of the future that may or may not be
under the Company's control, and that the Company may or may not
have considered. Accordingly, no assurances can be given that the
securities offering discussed above will be completed on the terms
described, or at all. Completion of the securities offering on the
terms described are subject to numerous conditions, including,
without limitation, market conditions and other risks and
uncertainties as detailed under the caption "Risk Factors" in the
Company’s registration statement on Form S-11. Any such
forward-looking statements speak only as of the time when made and
are based on information available to the Company as of such date
and are qualified in their entirety by this cautionary statement.
The Company assumes no obligation to revise or update any such
statement now or in the future, unless required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220210005998/en/
Media Inquiries: Tricia Ross, Financial Profiles, Inc.
tross@finprofiles.com 310-622-8226 Investor Inquiries: Megan
McGrath, Financial Profiles, Inc. Mmcgrath@finprofiles.com
310-622-8248
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