UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
(Exact Name of Registrant as Specified in Its Charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act: | ||
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
Item 8.01 | Other Events |
On August 2, 2023, Plymouth Industrial REIT, Inc. (the “Company”) issued a press release announcing that it had called for redemption all of the outstanding shares of its 7.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) on September 6, 2023 (the “Redemption Date”). The shares of Series A Preferred Stock are currently traded on the NYSE American exchange under the symbol “PLYM-PrA” (CUSIP No. 729640201).
The Series A Preferred Stock will be redeemed for a redemption price equal to $25.00 per share (the “Redemption Payment”) for a total Redemption Payment of $48.8 million. From and after the Redemption Date, all dividends will cease to accrue on the redeemed shares of Series A Preferred Stock.
On September 6, 2023, a dividend of $0.34647 per share of Series A Preferred Stock will paid to the record holders at the close of business on August 25, 2023. All shares of Series A Preferred Stock are held in book-entry form through The Depository Trust Company.
A copy of the press release is attached hereto at Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
Exhibit No. | Description | |
99.1 | Plymouth Industrial REIT, Inc. press release dated August 2, 2023 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PLYMOUTH INDUSTRIAL REIT, INC. | |||||
Date: August 2, 2023 | By: |
/s/ Jeffrey E. Witherell |
|||
Jeffrey E. Witherell | |||||
Chief Executive Officer |
Exhibit 99.1
Plymouth Industrial REIT Announces Redemption of Series A Preferred Stock
BOSTON—(August 2, 2023) Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced that, on September 6, 2023, it will redeem all of its outstanding 7.50% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) for a total redemption payment of $48.8 million. The dividend rate of the securities to be redeemed is 7.50%.
The shares of Series A Preferred Stock are currently traded on the NYSE American exchange under the symbol “PLYM-PrA” (CUSIP No. 729640201). The shares of Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share.
On September 6, 2023, a dividend in the amount of $0.34647 per share of Series A Preferred Stock will be paid in cash to holders of record at the close of business on August 25, 2023. On and after the redemption date, the shares of Series A Preferred Stock will no longer be deemed outstanding, and no further dividends will be declared or payable on them.
The shares of Series A Preferred Stock are held through The Depository Trust Company (DTC) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Continental Stock Transfer & Trust Company, Plymouth’s paying agent for the Series A Preferred Stock. Questions about the notice of redemption and related materials should be directed to Continental Stock Transfer by mail or overnight courier at 1 State Street, 30th Floor, New York, NY 10004, Attention: Corporate Action, or by telephone at 917-262-2378 (Corporate Action department).
About Plymouth
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership, and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost effective space that is functional, flexible, and safe.
Forward-Looking Statements
This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives, and strategies, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
###
Contact: | ||
Tripp Sullivan | ||
SCR Partners | ||
(615) 942-7077 | ||
TSullivan@scr-ir.com |
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