POWER REIT (NYSEMKT:PW) Files An 8-K Other Events
Item 8.01 Other Events.
On December 23, 2020, Power REIT, the Company, issued the press release announcing the pricing for its proposed rights offering.
Under the proposed rights offering, the Company will distribute non-transferable subscription rights to purchase its common shares to eligible stockholders and participating option holders as December 28, 2020, the record date for the rights offering. Holders who exercise their subscription rights in full will be entitled to subscribe for additional shares that are not purchased by other shareholders. A registration statement, as amended, relating to the rights offering has been filed with the Securities and Exchange Commission but has not yet become effective.
The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
|99.1||Power REIT Press Release issued on December 23, 2020|
Power REIT Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 Power REIT Announces Additional Terms for Rights Offering to Existing Common Shareholders to Raise Capital for Acquisitions Establishes Subscription Price per Common Share of $26.50 Old Bethpage,…
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About POWER REIT (NYSEMKT:PW)
Power REIT is a real estate investment trust (REIT) that holds, develops, acquires and manages real estate assets related to transportation and energy infrastructure in the United States. The Company, within the transportation and energy infrastructure sectors, is focused on making new acquisitions of real estate that are or will be leased to renewable energy generation projects, such as utility-scale solar farms and wind farms. It is structured as a holding company and owns its assets through its subsidiaries. Its assets include approximately 112 miles of railroad infrastructure and related real estate, which is owned by its subsidiary Pittsburgh & West Virginia Railroad (P&WV) and approximately 601 acres of fee simple land leased to a range of solar power generating projects with an aggregate generating capacity of approximately 108 Megawatts (MW). It is engaged in expanding its portfolio of real estate related to renewable energy generation projects.