One Liberty Properties enters $50M ATM equity distribution agreement with B. Riley

ONE LIBERTY PROPERTIES INC

New program allows sale of up to $50M of common stock through B. Riley as agent or principal.
Prior equity distribution agreement dated August 2020 (amended March 2022) terminated effective September 21, 2023.
Sales agent commission capped at 2.0% of gross sales price; expenses reimbursed up to $35,000.
Company not obligated to sell any shares; program may be suspended at any time.

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

ONE LIBERTY PROPERTIES INC entered into Equity Distribution Agreement with B. Riley Securities, Inc. valued at up to $50 million (effective 2023-09-21).

Action: entry
Agreement: atm program
Counterparty: B. Riley Securities, Inc.
Value: up to $50 million
Effective: 2023-09-21

Exact text from the filing

On September 21, 2023 (the “Commencement Date”), we entered into an Equity Distribution Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Sales Agent”), to sell shares of our common stock

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

ONE LIBERTY PROPERTIES INC terminated Prior Sales Agreement with B. Riley Securities, Inc. (effective 2023-09-21).

Action: termination
Agreement: atm program
Counterparty: B. Riley Securities, Inc.
Effective: 2023-09-21

Exact text from the filing

Effective as of the Commencement Date, we terminated the equity distribution agreement dated August 19, 2020, as amended March 18, 2022 (the “Prior Sales Agreement”), between us and the Sales Agent.

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ONE LIBERTY PROPERTIES INC filing history →

Source: SEC EDGAR

accession 0001140361-23-044764

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