SUN COMMUNITIES, INC. (NYSE:SUI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
operating partnership, Sun Communities Operating Limited
Partnership, entered into an underwriting agreement (the
Underwriting Agreement) with Merrill Lynch, Pierce, Fenner Smith
Incorporated and Citigroup Global Markets Inc., as representatives
of the several underwriters named in Schedule II thereto
(collectively, the Underwriters), to which the Company agreed to
issue and sell to the Underwriters an aggregate of 4,200,000 shares
(the Offered Shares) of the Company’s common stock (the Common
Stock) at a price of $84.68 per share. The Company also granted the
Underwriters a 30-day option to purchase up to 630,000 additional
shares of Common Stock (the Option Shares and, together with the
Offered Shares, the Shares), which was exercised in full. The
offering closed on May 31, 2017.
Securities Act of 1933, as amended, to the Company’s effective
shelf registration statement on Form S-3 (Registration No.
333-203498).
1.1 and is incorporated herein by reference.
commencement of the offering of the Shares. A copy of the press
release is attached as Exhibit 99.1 hereto and is incorporated
herein by reference.
upsizing and pricing of the offering of the Shares. A copy of the
press release is attached as Exhibit 99.2 hereto and is
incorporated herein by reference.
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1.1
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Underwriting Agreement dated May 24, 2017, among Sun
Communities, Inc., Sun Communities Operating Limited Partnership, Merrill Lynch, Pierce, Fenner Smith Incorporated and Citigroup Global Markets Inc. |
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5.1
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Opinion of Baker, Donelson, Bearman, Caldwell
Berkowitz, a Professional Corporation |
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8.1
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Opinion of Jaffe, Raitt, Heuer Weiss, Professional
Corporation |
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23.1
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Consent of Baker, Donelson, Bearman, Caldwell
Berkowitz, a Professional Corporation (included in Exhibit 5.1) |
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23.2
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Consent of Jaffe, Raitt, Heuer Weiss, Professional
Corporation (included in Exhibit 8.1) |
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99.1
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Press Release dated May 24, 2017
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99.2
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Press Release dated May 25, 2017
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About SUN COMMUNITIES, INC. (NYSE:SUI)
Sun Communities, Inc. (SHS) is a self-administered and self-managed real estate investment trust (REIT). The Company operates in two segments: Real Property Operations, and Home Sales and Rentals. The Real Property Operations segment owns, operates and develops manufactured housing (MH) and recreational vehicle (RV) throughout the United States and is in the business of acquiring, operating and expanding MH and RV communities. Real Property Operations include several home options of various sizes and designs and consist of MH communities and RV communities. The Home Sales and Rentals segment offers manufactured home sales and leasing services to tenants and prospective tenants of its communities. It is engaged in the marketing, selling and leasing of new and pre-owned homes to residents in its communities. It has regional property management offices located in Austin, Texas; Dayton, Ohio; Grand Rapids, Michigan; Traverse City, Michigan; Ft. Myers, Florida, and Orlando, Florida. SUN COMMUNITIES, INC. (NYSE:SUI) Recent Trading Information
SUN COMMUNITIES, INC. (NYSE:SUI) closed its last trading session down -0.03 at 86.14 with 662,072 shares trading hands.
