National Storage Affiliates acquires 15 Florida properties for $144M, issues Series B Preferred Shares

National Storage Affiliates Trust

Acquired 15 self-storage properties in Florida from Personal Mini Storage affiliates for ~$144M.
Issued 5,668,128 Series B 6% Cumulative Redeemable Preferred Shares ($25 liquidation preference) to sellers.
Series B Preferred rank senior to common, 6% dividend ($1.50/yr), quarterly starting June 30, 2023.
Registration rights agreement requires filing resale registration statement within 180 days.
Partnership unit amendment creates Series B Preferred OP Units mirroring preferred shares.

item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

National Storage Affiliates Trust: Filed Articles Supplementary to the Articles of Amendment and Restatement, classifying and designating 7,000,000 Series B Preferred Shares (effective 2023-03-15).

Change: charter amendment
Effective: 2023-03-15

Exact text from the filing

On March 15, 2023, the Company filed with the State Department of Assessments and Taxation of the State of Maryland Articles Supplementary (the “Articles Supplementary”) to the Company’s Articles of Amendment and Restatement, classifying and designating 7,000,000 of the Company’s authorized but unissued preferred shares of beneficial interest as Series B Preferred Shares.

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13 governance changes filed in the last 30 days. Browse all governance changes →

National Storage Affiliates Trust filing history →

Source: SEC EDGAR

accession 0001628280-23-008754

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