UMH Properties, Inc. Files 8-K for Material Agreement
Ticker: UMH-PD · Form: 8-K · Filed: Mar 13, 2024 · CIK: 752642
| Field | Detail |
|---|---|
| Company | Umh Properties, Inc. (UMH-PD) |
| Form Type | 8-K |
| Filed Date | Mar 13, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.10, $150,000,000, $17.8 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, real-estate, filing
TL;DR
UMH Properties just signed a big deal, filing an 8-K with new agreements and financials.
AI Summary
On March 12, 2024, UMH Properties, Inc. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The company, incorporated in Maryland, is a Real Estate Investment Trust (REIT) with its principal executive offices located in Freehold, New Jersey.
Why It Matters
This filing indicates a significant new contract or deal for UMH Properties, Inc., which could impact its financial performance and future operations.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's financial health and stock performance.
Key Numbers
- 001-12690 — SEC File Number (Identifies the company's filing with the SEC.)
- 22-1890929 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- UMH Properties, Inc. (company) — Registrant
- March 12, 2024 (date) — Date of earliest event reported
- Freehold, New Jersey (location) — Principal executive offices location
- Maryland (location) — State of incorporation
FAQ
What is the nature of the material definitive agreement entered into by UMH Properties, Inc. on March 12, 2024?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on March 12, 2024, and is reported under Item 1.01.
What other items are included in this 8-K filing besides the material definitive agreement?
The filing also includes Item 9.01, which pertains to Financial Statements and Exhibits.
When was UMH Properties, Inc. incorporated, and where are its principal executive offices located?
UMH Properties, Inc. was incorporated in Maryland and its principal executive offices are located at Juniper Business Plaza, Suite 3-C, 3499 Route 9 North, Freehold, New Jersey 07728.
What is UMH Properties, Inc.'s Standard Industrial Classification (SIC) code?
UMH Properties, Inc.'s SIC code is 6798, which corresponds to Real Estate Investment Trusts.
What was the former name of UMH Properties, Inc. and when did the name change occur?
The former name of UMH Properties, Inc. was UNITED MOBILE HOMES INC, and the date of the name change was July 3, 1992.
Filing Stats: 1,112 words · 4 min read · ~4 pages · Grade level 11.6 · Accepted 2024-03-12 18:00:15
Key Financial Figures
- $0.10 — hange on which registered Common Stock $0.10 par value UMH New York Stock Exchan
- $150,000,000 — aving an aggregate sales price of up to $150,000,000 from time to time through the Distribut
- $17.8 million — time of such termination, approximately $17.8 million of Common Stock remained unsold under s
Filing Documents
- ny20023863x2_8k.htm (8-K) — 33KB
- ny20023863x2_ex1-1.htm (EX-1.1) — 322KB
- ny20023863x2_ex5-1.htm (EX-5.1) — 20KB
- ny20023863x2_ex5-1img01.jpg (GRAPHIC) — 334KB
- ny20023863x2_ex5-1img02.jpg (GRAPHIC) — 521KB
- ny20023863x2_ex5-1img03.jpg (GRAPHIC) — 292KB
- ny20023863x2_ex5-1img04.jpg (GRAPHIC) — 466KB
- 0001140361-24-012878.txt ( ) — 2841KB
- umh-20240312.xsd (EX-101.SCH) — 4KB
- umh-20240312_def.xml (EX-101.DEF) — 17KB
- umh-20240312_lab.xml (EX-101.LAB) — 26KB
- umh-20240312_pre.xml (EX-101.PRE) — 19KB
- ny20023863x2_8k_htm.xml (XML) — 6KB
01 Entry Into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement On March 12, 2024, UMH Properties, Inc. (the "Company") entered into an equity distribution agreement (the "Distribution Agreement") with BMO Capital Markets Corp., J.P. Morgan Securities LLC , Wells Fargo Securities, LLC, B. Riley Securities, Inc., Compass Point Research & Trading, LLC, and Janney Montgomery Scott LLC, as distribution agents (the "Distribution Agents") under which the Company may offer and sell shares of the Company's common stock, $0.10 par value per share (the "Common Stock"), having an aggregate sales price of up to $150,000,000 from time to time through the Distribution Agents, as agents or principals. Sales of the shares of Common Stock under the Distribution Agreement, if any, will be in "at the market offerings" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"), including, without limitation, sales made directly on or through the New York Stock Exchange (the "NYSE") or to or through a market maker or any other method permitted by law, including, without limitation, negotiated transactions and block trades. The Distribution Agents are not required to sell any specific number or dollar amount of securities, but will use commercially reasonable efforts consistent with their normal trading and sales practices, on mutually agreed terms between the Distribution Agents and the Company. Upon entry into the Distribution Agreement, the Company terminated its prior "at the market" offering of Common Stock. At the time of such termination, approximately $17.8 million of Common Stock remained unsold under such prior offering. The Company intends to use the net proceeds from sales of shares of Common Stock under the Distribution Agreement for working capital and general corporate purposes, which may include purchase of manufactured homes for sale or lease to customers, expansion of the Company's existing communities, potential acquisitions of additional propert
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 1.1 Equity Distribution Agreement, dated March 12, 2024 among UMH Properties, Inc. and BMO Capital Markets Corp., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, B. Riley Securities, Inc., Compass Point Research & Trading, LLC, and Janney Montgomery Scott LLC, as distribution agents. 5.1 Opinion of Womble Bond Dickinson (US) LLP. 23.1 Consent of Womble Bond Dickinson (US) LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 12, 2024 UMH PROPERTIES, INC. By: /s/ Anna T. Chew Name: Anna T. Chew Title: Executive Vice President and Chief Financial Officer