Corporate ActionMay 12, 2026, 05:17 PM
UMH Properties Amends ATM Programs for $150M Common, $100M Preferred Stock
AI Summary
UMH Properties, Inc. has updated its equity distribution agreements, allowing it to offer and sell up to $150 million in common stock and up to $100 million in 6.375% Series D Cumulative Redeemable Preferred Stock through "at the market" offerings. Approximately $44.6 million of common stock and $97.5 million of preferred stock remain available for sale under these amended agreements. The net proceeds from common stock sales are intended for working capital, general corporate purposes, potential acquisitions, and short-term debt repayment.
Key Highlights
- UMH Properties amended its Equity Distribution Agreement to offer up to $150,000,000 of common stock.
- Approximately $44.6 million of common stock remains unsold and available for sale.
- The company entered an Amended and Restated Sales Agreement for up to $100,000,000 of Series D Preferred Stock.
- Approximately $97.5 million of Series D Preferred Stock remains unsold and available for sale.
- Sales will be conducted as "at the market offerings" on the New York Stock Exchange.
- Proceeds from common stock sales will fund working capital, acquisitions, and debt repayment.