Preferred Apartment Communities, Inc. (NYSE:APTS) Files An 8-K Other Events

On April 27, 2017, Preferred Capital Securities, LLC (“PCS”) entered into a soliciting dealer agreement (the “Soliciting Dealer Agreement”) with an independent, third-party, broker dealer (the “Selling BD”) for the Selling BD to use its reasonable best efforts to sell, in a public offering (the “Offering”) by Preferred Apartment Communities, Inc. ( the “Company”) to the Registration Statement (as defined below), shares of the Company’s Series A Redeemable Preferred Stock, par value $0.01 per share, and Warrants to purchase shares of the Company’s common stock, par value $0.01 per share. The Offering is being made to a final prospectus, dated March 16, 2017, which forms a part of the Company’s registration statement on Form S-3 (File No. 333-211924) (the “Registration Statement”), which was declared effective by the Securities and Exchange Commission on February 14, 2017. PCS is the dealer manager for the Offering.

Generally, the Series A Redeemable Preferred Stock and the Warrants will be sold in units (“Units”) for $1,000 per Unit, subject to adjustment if a participating broker dealer reduces commissions, with each Unit consisting of (i) one share of Series A Redeemable Preferred Stock with an initial stated value of $1,000 per share, and (ii) one Warrant to purchase 20 shares of common stock, exercisable by the holder at an exercise price that is set at a 20% premium to the current market price per share of the Company’s common stock determined using the closing price of the Company’s common stock immediately preceding the issuance of such Warrant, subject to a minimum exercise price of $19.50 per share (subject to adjustment). Under the Soliciting Dealer Agreement, the Selling BD has agreed to sell the Units with a selling commission of 5% of the gross proceeds from the Units sold by the Selling BD which will result in a sales price of $980 per Unit. The net proceeds to the Company will not be effected by the reduction in the Selling BD’s commissions. For further information on this arrangement please contact PCS at 1-855-330-6594.