secwatch.observer — SEC 8-K summary
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Issuer:     UMH PROPERTIES, INC. (UMH)
CIK:        0000752642
Form:       8-K
Filed at:   2024-09-16T23:59:59+00:00
Accession:  0001140361-24-041195
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/752642/000114036124041195/0001140361-24-041195-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/752642/000114036124041195/ny20035891x2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-041195

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