IOR Shareholders Approve Stock Issuance for Real Estate Acquisition

TL;DR

IOR shareholders OK'd issuing stock for a real estate buy. Deal closes Friday.

AI Summary

On December 11, 2024, INCOME OPPORTUNITY REALTY INVESTORS, INC. (IOR) filed an 8-K to report that its shareholders voted to approve the issuance of common stock in connection with the acquisition of certain real estate assets. The acquisition is expected to close on or about December 13, 2024.

Why It Matters

This shareholder approval is a key step in INCOME OPPORTUNITY REALTY INVESTORS, INC.'s strategy to expand its real estate portfolio, potentially impacting future revenue and asset value.

Risk Assessment

Risk Level: medium — The acquisition involves the issuance of stock and the transfer of real estate assets, which carries inherent integration and market risks.

Key Players & Entities

• INCOME OPPORTUNITY REALTY INVESTORS, INC. (company) — Registrant
• December 11, 2024 (date) — Date of Report
• December 13, 2024 (date) — Expected closing date

FAQ

Key Financial Figures

• $0.01 — ch Registered Common Stock, par value $0.01 IOR NYSE American Indicate by chec

Filing Documents

• v12122408k.htm (8-K) — 33KB
• 0001214659-24-020474.txt ( ) — 203KB
• ior-20241211_lab.xml (EX-101.LAB) — 33KB
• ior-20241211_pre.xml (EX-101.PRE) — 22KB
• ior-20241211.xsd (EX-101.SCH) — 3KB
• v12122408k_htm.xml (XML) — 4KB

07 - Submission of Matters to the Vote

Item 5.07 - Submission of Matters to the Vote of Security Holders On December 11, 2024, the Annual Meeting of Stockholders of Income Opportunity Realty Investors, Inc. (" IOR " or the " Issuer " or the " Registrant ") was held, following a solicitation of proxies, pursuant to a Notice of Annual Meeting and related Proxy of 1934, as amended. On the record date of November 7, 2024, a total of 4,066,178 shares of Common Stock were outstanding, with each share entitled to cast one vote. At the meeting, proxies representing at least 3,230,130 shares (94.86% of the outstanding) appeared and were cast, thereby establishing a quorum present in person or by proxy. It was noted that, of the 4,168,214 outstanding shares of Common Stock, 3,230,130 shares are held in DTC/CEDE accounts. At the Annual Meeting, which involved the election of directors, the following named persons received the number of votes cast for, against or withheld, as well as the number of abstention and broker non-votes: Nominee Name No. of Votes For Of Shares Voted, % For No. of Votes Withheld No. of Votes Abstained Broker Non- Votes Henry A. Butler 3,805,973 93.60% 52,277 - 476 Robert A. Jakuszewski 3,805,973 93.60% 52,277 - 476 Ted R. Munselle 3790,955 93.23% 67,295 - 476 Fernando Victor Lara Celis 3,805,973 93.60% 52,277 - 476 All of the nominees named above, each of which is currently a director of the Registrant, were elected at such Annual Meeting. The second matter presented at the Annual Meeting was the ratification of the appointment of Farmer, Fuqua & Huff, P.C. as the independent registered public accounting firm for the Registrant for the fiscal year ending December 31, 2024, and any interim period. A total of 3,839,905 votes were cast FOR, 17,310 votes were cast AGAINST, and 1,311 votes ABSTAINED from voti

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned, hereunto duly authorized. Dated: December 12, 2024 INCOME OPPORTUNITY REALTY INVESTORS, INC. By: /s/ Erik L. Johnson Erik L. Johnson, President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR