POWER REIT (NYSEMKT:PW) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On November 25, 2019, the Trust issued a press release regarding the completion of a financing that is intended to provide capital for acquisition of additional properties on an accretive basis. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in Item 7.01 of this report, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Trust, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 8.01 – Announcement of Financing Activity
On November 25, 2019, Power REIT, through a newly formed subsidiary, completed a financing that is intended to provide capital for acquisition of additional properties on an accretive basis. The financing is in the form of long-term fixed rate bonds with gross proceeds of $15,500,000. The bonds carry a fixed interest rate of 4.62% and fully amortize over the life of the financing which matures in 2054 (35 years). Power REIT intends to use the proceeds to expand its portfolio of income producing properties.
Item 9.01 Financial Statements and Exhibits.
|99.1||Power REIT Press Release issued on November 25, 2019.|
Power REIT Exhibit
EX-99.1 2 ex99-1.htm POWER REIT ANNOUNCES CLOSING ON FINANCING 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.