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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 18, 11:06 PM
Slide #410. Urstadt Biddle Properties Inc. — Preferred Stock Offering
| Company: |
Urstadt Biddle Properties Inc. (UBA) |
| Date announced: |
10/21/2014 |
| Security type: |
6.75% Series G Cumulative Redeemable Preferred Stock (UBP.PRG) |
| Shares Offered: |
2,800,000 |
| Date of Pricing: |
10/22/2014 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
Urstadt Biddle Properties Inc. (NYSE:UBA) (the "Company"), a self-administered equity real estate investment trust today announced the commencement of a public offering of 2,450,000 shares of its Series G Cumulative Redeemable Preferred Stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase an additional 367,500 shares to cover overallotments, if any. BMO Capital Markets is the sole book-running manager for the offering. Deutsche Bank Securities and Stifel are acting as joint lead managers for the offering. J.J.B. Hilliard, W.L. Lyons, LLC, Wunderlich Securities and BNY Mellon Capital Markets, LLC are acting as co-managers for the offering. - updated 10/22 - Urstadt Biddle Properties Inc. (NYSE:UBA) (the "Company"), a self-administered equity real estate investment trust today announced that it has priced a public offering of 2,800,000 shares of its 6.75% Series G Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for estimated net proceeds before expenses of approximately $67.8 million. The offering is subject to customary closing conditions and is expected to close on or about October 28, 2014. |
Urstadt Biddle Properties is a real estate investment trust engaged in the acquisition, ownership and management of commercial real estate. Co.'s business is the ownership of real estate investments, which consist principally of investments in various properties, with primary focus on neighborhood and community shopping centers in the metropolitan New York tri-state area outside of the City of New York. In addition to its business of owning and managing real estate, Co. is also involved in the beer, wine and spirits retail business, through its ownership of six subsidiary corporations. Co. also engages in solar array installations and electrical vehicle charging stations.
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