Cedar Realty Trust Announces Tender Offer for Series C Cumulative Redeemable Preferred Stock

Cedar Realty Trust, Inc. filed a Form 8-K with the Securities and Exchange Commission to announce a tender offer for its 6.50% Series C Cumulative Redeemable Preferred Stock. The announcement was made through a press release on December 27, 2024.

The company’s tender offer, known as a “modified Dutch auction,” aims to purchase up to $12,500,000 worth of shares of its outstanding Series C Preferred Stock. The purchase price will range from $13.75 to $15.75 per share. The tender offer is set to commence on December 27, 2024, and will expire on January 28, 2025, unless extended.

The offer allows stockholders to specify the number of shares they wish to tender and at what price within the designated range. Based on the tendered shares and indicated prices, Cedar Realty Trust will determine the lowest price per share that allows it to acquire up to the specified value of Series C Shares, subject to terms and conditions.

Stockholders are advised that the press release is for informational purposes only and does not constitute a recommendation to buy or sell Series C Preferred Stock. Once the offer is active, the company will file a tender offer statement along with relevant documents with the SEC, outlining the offer terms.

While the Board of Directors authorized the tender offer, neither the company nor its representatives are making recommendations on whether stockholders should tender their shares. Georgeson LLC has been appointed as the information agent, Computershare Inc. as the depositary, and Alston & Bird LLP as legal counsel for the offer.

Stockholders are encouraged to carefully review the terms and conditions of the offer. When available, offer details will be accessible on the SEC’s website or by contacting the information agent or depositary directly. Cedar Realty Trust advises stockholders to consult their financial advisors before making any decisions regarding their Series C Preferred Stock holdings.

The company operates as a real estate investment trust (REIT) mainly focused on grocery-anchored shopping centers in the Northeast. Their portfolio consists of 16 properties, with approximately 2.4 million square feet of gross leasable area. For more information on Cedar Realty Trust and its operations, interested parties can visit the company’s website at www.whlr.us.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Cedar Realty Trust’s 8K filing here.

Cedar Realty Trust Company Profile

Cedar Realty Trust, Inc is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, DC to Boston. The Company's portfolio (excluding properties treated as "held for sale") comprises 55 properties, with approximately 8.3 million square feet of gross leasable area.