UMH Properties establishes $100M at-the-market offering of 6.375% Series D Preferred Stock

UMH PROPERTIES, INC.

Entered into ATM Sales Agreement with B. Riley Securities to sell up to $100M of 6.375% Series D Cumulative Redeemable Preferred Stock.
Replaces previous ATM program for Series C and Series D preferred stock from July 2020.
Proceeds intended for working capital, manufactured home purchases, community expansion, acquisitions, or debt repayment.
Commission of up to 2.0% of gross proceeds payable to B. Riley Securities.
Offering terminates upon sale of all shares or termination of agreement by either party.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

UMH PROPERTIES, INC. entered into Sales Agreement with B. Riley Securities, Inc. valued at up to $100,000,000 (effective 2023-01-10).

Action: entry
Agreement: atm program
Counterparty: B. Riley Securities, Inc.
Value: up to $100,000,000
Effective: 2023-01-10

Exact text from the filing

On January 10, 2023, UMH Properties, Inc. (the “Company”) entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc., as distribution agent

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UMH PROPERTIES, INC. filing history →

Source: SEC EDGAR

accession 0001140361-23-001286

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