Extra Space and Life Storage amend merger agreement to modify minority LP election and restricted stock consideration

Extra Space Storage Inc.

Minority Limited Partners lose right to elect EXR common stock in lieu of EXR OP units; may still redeem OP units before closing.
Preferred unitholder election removed because all Series A Preferred Units have been converted to common units.
Top-up cash for Life Storage restricted stock replaced with top-up grants of Life Storage performance stock units.
Amendment dated May 18, 2023; Merger Agreement originally signed April 2, 2023.
Overall merger consideration for common stockholders unchanged; closing conditions unaffected.

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

Extra Space Storage Inc. amended Merger Agreement Amendment with Life Storage, Inc. and Life Storage LP (effective 2023-05-18).

Action: amendment
Agreement: merger
Counterparty: Life Storage, Inc. and Life Storage LP
Effective: 2023-05-18

Exact text from the filing

On May 18, 2023, the Extra Space Parties and the Life Storage Parties entered into an Amendment to Agreement and Plan of Merger (the “Merger Agreement Amendment”)

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Extra Space Storage Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-149320

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