Whitestone REIT (NYSE:WSR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
REIT Operating Partnership, L.P. (the Operating Partnership)
entered into an underwriting agreement (the Underwriting
Agreement) with SunTrust Robinson Humphrey, Inc., acting as
representative of the several underwriters named in Schedule A
thereto (collectively, the Underwriters), regarding the purchase
and sale of an aggregate of 7,000,000 of the Companys common
shares, par value $0.001 per share (Common Shares), at a purchase
price to the Underwriters of $12.48 per share. to the
Underwriting Agreement, the Company granted the Underwriters a
30-day option to purchase up to an additional 1,050,000 Common
Shares at the same purchase price per share and, on April 24,
2017, the Underwriters exercised such option with respect to
1,018,500 Common Shares. The Underwriting Agreement contains
customary closing conditions and the parties have made certain
customary representations, warranties and indemnifications to
each other in the Underwriting Agreement. The Common Shares were
offered and sold to a prospectus supplement, dated April 20,
2017, and a base prospectus, dated May 18, 2015, relating to the
Companys effective shelf registration statement on Form S-3 (File
No. 333-203727). The foregoing description of the Underwriting
Agreement is qualified in its entirety by reference to the
Underwriting Agreement, which is filed as Exhibit 1.1 to this
Current Report on Form 8-K and incorporated herein by reference.
Exhibit No.
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Description
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1.1
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Underwriting Agreement, dated April 20, 2017, by and
among Whitestone REIT, Whitestone REIT Operating Partnership, L.P. and SunTrust Robinson Humphrey, Inc. |
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5.1
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Opinion of Morrison Foerster LLP regarding the legality
of shares. |
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8.1
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Opinion of Morrison Foerster LLP regarding certain tax
matters. |
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23.1
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Consent of Morrison Foerster LLP (included in Exhibits
5.1 and 8.1). |
About Whitestone REIT> (NYSE:WSR)
Whitestone REIT is a real estate investment trust. The Company is engaged in owning and operating commercial properties in culturally diverse markets in various metropolitan areas. The Company’s acquisition targets are located in densely populated, culturally diverse neighborhoods, primarily in and around Austin, Chicago, Dallas-Fort Worth, Houston, Phoenix and San Antonio. As of December 31, 2016, the Company owned or held interests in 69 commercial properties, including 15 properties in Houston, five properties in Dallas-Fort Worth, three properties in San Antonio, four properties in Austin, 27 properties in the Scottsdale and Phoenix, Arizona metropolitan areas, and one property in Buffalo Grove, Illinois, a suburb of Chicago. As of December 31, 2016, the Company’s properties included Heritage Trace Plaza, Headquarters Village, La Mirada, The Marketplace at Central, Mercado at Scottsdale Ranch, Paradise Plaza, Parkside Village North, Pima Norte and Quinlan Crossing. Whitestone REIT> (NYSE:WSR) Recent Trading Information
Whitestone REIT> (NYSE:WSR) closed its last trading session down -0.02 at 12.88 with 762,269 shares trading hands.