UMH Properties Files 8-K for Material Definitive Agreement
Ticker: UMH-PD · Form: 8-K · Filed: Apr 4, 2024 · CIK: 752642
| Field | Detail |
|---|---|
| Company | Umh Properties, Inc. (UMH-PD) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $180 million, $260 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: UMH
TL;DR
UMH Properties just filed an 8-K for a new material definitive agreement - big financial move incoming.
AI Summary
UMH Properties, Inc. entered into a material definitive agreement on April 2, 2024, related to a direct financial obligation. The company, a real estate investment trust, filed this 8-K report to disclose this event. The filing does not specify the exact nature of the financial obligation or the parties involved.
Why It Matters
This filing indicates a significant financial event for UMH Properties, Inc., potentially impacting its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which could carry significant financial implications for the company.
Key Players & Entities
- UMH Properties, Inc. (company) — Registrant
- April 2, 2024 (date) — Date of earliest event reported
FAQ
What is the specific nature of the material definitive agreement?
The filing does not specify the exact nature of the material definitive agreement, only that one has been entered into.
Who are the other parties involved in this agreement?
The filing does not disclose the names of the other parties involved in the material definitive agreement.
What is the dollar amount or financial scope of this obligation?
The filing does not provide specific dollar amounts or the financial scope of the direct financial obligation.
What is the purpose of this financial obligation?
The purpose of the direct financial obligation is not detailed in this 8-K filing.
When was this agreement officially entered into?
The earliest event reported in relation to this agreement is April 2, 2024.
Filing Stats: 597 words · 2 min read · ~2 pages · Grade level 9.8 · Accepted 2024-04-04 16:15:22
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value UMH New York Stock Exchan
- $180 million — g credit facility (the "Facility") from $180 million in available borrowings to $260 million
- $260 million — $180 million in available borrowings to $260 million in available borrowings. The Facility i
Filing Documents
- form8-k.htm (8-K) — 46KB
- ex10-1.htm (EX-10.1) — 23KB
- ex99-1.htm (EX-99.1) — 9KB
- 0001493152-24-013192.txt ( ) — 299KB
- umh-20240402.xsd (EX-101.SCH) — 4KB
- umh-20240402_def.xml (EX-101.DEF) — 26KB
- umh-20240402_lab.xml (EX-101.LAB) — 36KB
- umh-20240402_pre.xml (EX-101.PRE) — 25KB
- form8-k_htm.xml (XML) — 6KB
01 Entry
Item 1.01 Entry into a Material Definitive Agreement. On April 2, 2024, UMH Properties, Inc. ("UMH" or the "Company") expanded its existing unsecured revolving credit facility (the "Facility") from $180 million in available borrowings to $260 million in available borrowings. The Facility is syndicated with three banks, BMO Capital MarketsCorp. ("BMO"), JPMorgan Chase Bank, N.A. ("JPMorgan") and Wells Fargo Bank, N.A. ("Wells Fargo") as joint arrangers and joint book runners, with Bank of Montreal as administrative agent. The Commitment Amount Increase Request is attached hereto as Exhibit 10.1. A copy of the press release announcing the above transaction is attached as Exhibit 99.1 hereto and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03. Item 7.01 Regulation FD Disclosure On April 3, 2024, the Company issued a press release announcing that it expanded its existing unsecured revolving credit facility. Item 9.01 Financial Statements and Exhibits. (d) The following exhibits are filed as part of this report: (10.1) Commitment Amount Increase Request (99.1) Press Release dated April 3, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 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. UMH Properties, Inc . Date: April 4, 2024 By: /s/ Anna T. Chew Name: Anna T. Chew Title: Executive Vice President and Chief Financial Officer 3