Urstadt Biddle Properties Inc. Announces Pricing of Class A Common Stock Offering
02 October 2012 - 11:09PM
Business Wire
Urstadt Biddle Properties Inc. (the “Company”) (NYSE:UBA) today
announced the pricing of its underwritten offering of 2,500,000
shares of its Class A common stock at a price to the public of
$19.60 per share. The Company has granted the underwriter an option
for 30 days to purchase up to an additional 375,000 shares of its
Class A common stock. The offering was made pursuant to the
Company's shelf registration statement and settlement is expected
to occur on or about October 5, 2012. Deutsche Bank Securities Inc.
acted as sole book-running manager for the offering.
The Company intends to use the net proceeds for general
corporate purposes, which may include the repayment of outstanding
indebtedness, the funding of capital improvements to its existing
properties and the acquisition of additional properties. Pending
the use of the net proceeds as described above, the Company may use
the net proceeds to make investments in short-term income-producing
securities that are consistent with the Company's status as a REIT.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction. The offering may be made only by means of a
prospectus and related prospectus supplement.
A final prospectus supplement and accompanying base prospectus
related to the offering will be filed with the Securities and
Exchange Commission. Copies of the final prospectus supplement and
accompanying base prospectus, when available, may be obtained by
contacting Deutsche Bank Securities Inc., Attn: Prospectus Group,
60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611
or by emailing prospectus.cpdg@db.com.
Urstadt Biddle Properties Inc. is a self-administered equity
real estate investment trust providing investors with a means of
participating in ownership of income-producing properties with the
liquidity of being listed on the New York Stock Exchange since
1970. Urstadt Biddle Properties Inc. owns or has equity interests
in 54 properties containing approximately 4.9 million square feet
of space and has paid 171 consecutive quarters of uninterrupted
dividends to its shareholders since its inception.
Certain statements contained herein may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Such factors include, among other
things, risks associated with the timing of and costs associated
with property improvements, financing commitments and general
competitive factors.
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