other material
confidence high
sentiment neutral
materiality 0.55
UMH Properties amends ATM agreements: $150M common stock, $100M preferred stock
UMH PROPERTIES, INC.
- Common stock ATM capacity increased to $150M aggregate with approx. $44.6M unsold remaining.
- Preferred stock ATM capacity set at $100M aggregate with approx. $97.5M unsold remaining.
- Distribution agents updated; Janney Montgomery Scott removed, B. Riley, Cantor Fitzgerald, Maxim added as sales agents.
- Net proceeds intended for working capital, manufactured home purchases, community expansion, debt repayment.
- Legal opinions from Womble Bond Dickinson and Paul Hastings filed as exhibits.