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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.



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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