UMH Properties, Inc. (NYSE:UMH) Files An 8-K Material Modification to Rights of Security Holders
Increase in Authorized Shares
On May 14, 2020, UMH Properties, Inc. (the “Company”) filed with the State Department of Assessments and Taxation of the State of Maryland (the “Maryland Department”) an amendment (the “Articles of Amendment”) to the Charter of the Company (the “Charter”) to increase the Company’s authorized shares of common stock, par value $0.10 per share (“Common Stock”), by 20,000,000 shares. to the terms of the Articles of Amendment, the increase in the authorized Common Stock became effective at 10 a.m., Eastern time, on May 15, 2020. As a result of this amendment, the Company’s total authorized shares were increased from 150,413,800 shares prior to the effective time of the Articles of Amendment (classified as 123,663,800 shares of Common Stock, 4,000,000 shares of 8.0% Series B Cumulative Redeemable Preferred Stock, par value $0.10 per share (“Series B Preferred Stock”), 13,750,000 shares of 6.75% Series C Cumulative Redeemable Preferred Stock, par value $0.10 per share (“Series C Preferred Stock”), 6,000,000 shares of 6.375% Series D Cumulative Redeemable Preferred Stock, par value $0.10 per share (“Series D Preferred Stock”), and 3,000,000 shares of excess stock, par value $0.10 per share (“Excess Stock”)), to 170,413,800 shares after the effective time of the Articles of Amendment (classified as 143,663,800 shares of Common Stock, 4,000,000 shares of Series B Preferred Stock, 13,750,000 shares of Series C Preferred Stock, 6,000,000 shares of Series D Preferred Stock and 3,000,000 shares of Excess Stock). The foregoing description of the Articles of Amendment is qualified in its entirety by reference to the Articles of Amendment, a copy of which is filed as Exhibit 3.1 to this Form 8-K and is incorporated by reference herein.
The information set forth in Item 3.03 above with respect to the Articles of Amendment is incorporated in this Item 5.03 in its entirety.
UMH PROPERTIES, INC. Exhibit
EX-3.1 2 ex3_1.htm EXHIBIT 3.1 Exhibit 3.1 UMH PROPERTIES,…
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About UMH Properties, Inc. (NYSE:UMH)
UMH Properties, Inc. operates as a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. It also leases homes to residents, and through its REIT subsidiary, UMH Sales and Finance, Inc. (S&F), the Company sells and finances the sale of manufactured homes in its communities. The Company owns and operates approximately 100 manufactured home communities containing over 17,800 developed sites. The communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. Its focus is on real estate investments. The Company invests in rental homes and owns approximately 3,700 rental homes. It engages in the rental of manufactured homes primarily in areas where the communities have existing vacancies. The Company also has approximately 1,300 additional sites in various stages of engineering/construction.
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