Urstadt Biddle Properties Inc. Announces Closing of Class A Common Stock Offering
04 November 2014 - 8:15AM
Business Wire
Urstadt Biddle Properties Inc. (the “Company”) (NYSE:UBA), a
self-administered equity real estate investment trust, today
announced the closing of its previously announced underwritten
public offering of 2,500,000 shares of its Class A common stock,
resulting in $52.05 million of proceeds to the Company before
offering expenses.
Deutsche Bank Securities Inc. acted as sole book-running manager
for the public offering.
The Company intends to use the net proceeds to fund a portion of
the purchase price of the proposed acquisition of four retail
shopping centers located in the Company’s target market of the
metropolitan New York tri-state area outside of the City of New
York. 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 its
qualification 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 has been filed with the Securities and
Exchange Commission. Copies of the final prospectus supplement and
accompanying base prospectus 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 69 properties containing approximately 4.9 million square feet
of space and has paid 179 consecutive quarters of uninterrupted
dividends to its shareholders since its inception.
This press release contains statements that constitute
“forward-looking statements,” including the anticipated use of the
net proceeds of the Company’s securities offering. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. No assurance can be given
that the acquisition will be completed, or that the net proceeds of
the offering will be used as indicated. These statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in or
incorporated by reference into the Risk Factors section of the
Company’s Registration Statement on Form S-3. Copies are available
on the SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
Urstadt Biddle Properties Inc.Willing L. Biddle, President and
CEOJohn T. Hayes, CFO203-863-8200
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