UMH Properties enters $150M at-the-market equity distribution agreement; authorizes 10M additional common shares

UMH PROPERTIES, INC.

Entered equity distribution agreement with BMO, J.P. Morgan, Wells Fargo, B. Riley, Compass Point, Janney Montgomery to sell up to $150M of common stock via ATM offerings.
Previous ATM program terminated; approximately $4.9M remained unsold at termination.
Authorized common shares increased by 10M to 163.7M, effective September 16, 2024.
Proceeds will be used for working capital, including manufactured home purchases, community expansion, acquisitions, and possible debt repayment.
Distribution agents will receive up to 2% commission on gross proceeds from sales.

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