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UMH > SEC Filings for UMH > Form 8-K on 6-Nov-2012All Recent SEC Filings

Show all filings for UMH PROPERTIES, INC.

Form 8-K for UMH PROPERTIES, INC.


6-Nov-2012

Other Events


Item 8.01 Other Events.

On October 31, 2012, UMH Properties, Inc. (the "Company") consummated its previously announced issuance and sale of 1,250,000 shares of its 8.25% Series A Cumulative Redeemable Preferred Stock in a registered direct placement at a purchase price of $25.50 per share. These shares of Series A Preferred Stock form a single series with, have the same terms as, and vote as a single class with, the Company's outstanding Series A Preferred Stock, of which 2,413,800 shares were outstanding prior to the offering. After giving effect to the offering, the Company has 3,663,800 shares of Series A Preferred Stock outstanding. The Series A Preferred Stock has a $25.00 liquidation value per share.

The Company received net proceeds from the offering after expenses of approximately $31 million and intends to use such proceeds to purchase additional properties in the ordinary course of business, including its pending acquisition of a manufactured home community near Cleveland, Ohio, and for general corporate purposes, including possible repayment of indebtedness.

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