8-K
filed June 29, 2023, 7:59 PM ET
CIK 0001037390
M&A
confidence high
sentiment neutral
materiality 1.00
INDUS REALTY TRUST, INC.: M&A transaction — INDUS Realty Trust acquired by Centerbridge/GIC for $67/share in ~$868M all-cash deal, delisted from Nasdaq
INDUS REALTY TRUST, INC.
- All outstanding shares of INDUS common stock purchased at $67.00 per share in cash; total enterprise value ~$868M.
- Stock delisted from Nasdaq; Form 25 filed to deregister under Section 12(b) of Exchange Act.
- Board restructured: Michael Gamzon remains; William Rahm, David Sukenik, Sam Fancher appointed.
- Abu Dhabi Investment Authority (ADIA) joins as strategic investor alongside Centerbridge and GIC.
- Existing credit agreement fully repaid and terminated without penalties.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 1.0
David Sukenik was appointed as director at INDUS REALTY TRUST, INC..
- Action
- became
- Role
- director
Exact text from the filing
William Rahm, David Sukenik and Sam Fancher became directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Sam Fancher was appointed as director at INDUS REALTY TRUST, INC..
- Action
- became
- Role
- director
Exact text from the filing
William Rahm, David Sukenik and Sam Fancher became directors of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
William Rahm was appointed as director at INDUS REALTY TRUST, INC..
- Action
- became
- Role
- director
Exact text from the filing
William Rahm, David Sukenik and Sam Fancher became directors of the Company.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
INDUS REALTY TRUST, INC. underwent a change of control involving affiliates of Centerbridge Partners, L.P. and GIC Real Estate, Inc. for approximately $868 million (closed 2023-06-29).
- Action
- change of control
- Counterparty
- affiliates of Centerbridge Partners, L.P. and GIC Real Estate, Inc.
- Consideration
- approximately $868 million
- Closing
- 2023-06-29
Exact text from the filing
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”) , a U.S. based industrial/logistics REIT, announced today the completion of the previously announced merger whereby affiliates of Centerbridge Partners, L.P. (“Centerbridge”), a global private investment firm with deep experience in real estate, and GIC, a global institutional investor, have acquired all of the outstanding shares of INDUS’ common stock in an all-cash transaction valued at approximately $868 million.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INDUS REALTY TRUST, INC. terminated Existing Credit Agreement with a syndicate of banks (effective 2023-06-29).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- a syndicate of banks
- Effective
- 2023-06-29
Exact text from the filing
on June 29, 2023, the Company repaid in full all outstanding indebtedness and terminated all obligations and commitments under its Amended and Restated Credit Agreement, dated as of April 21, 2022, by and among INDUS RT, LP, as the borrower, and a syndicate of banks (the “ Lenders ”) for which JPMorgan Chase Bank, N.A. acted as Administrative Agent, Joint Lead Arranger and Joint Bookrunner, and Citibank, N.A. acted as Joint Lead Arranger, Joint Bookrunner and Syndication Agent (the “ Existing Credit Agreement ”).
View on SEC.gov
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