Trinity Place Holdings Inc. Announces Record Date for Proposed Rights Offering
February 17 2017 - 5:03PM
Business Wire
Trinity Place Holdings Inc. (the “Company”) (NYSE:TPHS)
announced today that a record date of March 1, 2017 has been set
for a proposed rights offering of its shares of common stock. Upon
commencement of the proposed rights offering, the Company will
distribute to its existing stockholders as of the record date
non-transferable subscription rights to purchase their pro rata
portion of newly issued shares of its common stock. Each whole
subscription right will entitle the holder to purchase one share of
common stock at a subscription price equal to $7.50 per share.
Holders as of the record date will also have oversubscription
rights, pursuant to which they may be able to purchase additional
shares at the subscription price to the extent that not all
subscription rights are exercised, subject to certain
limitations.
The rights offering will be made pursuant to the Company’s
effective shelf registration statement on file with the Securities
and Exchange Commission (Reg. No. 333-214482). The information
herein is not complete and is subject to change. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of any securities referred
to in this press release in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such state or
jurisdiction. The rights offering will be made only by means of a
prospectus meeting the requirements of the Securities Act of 1933,
as amended.
About Trinity Place Holdings Inc.
Trinity Place Holdings Inc. is a real estate holding, investment
and asset management company. The Company’s business is primarily
to own, invest in, manage, develop and/or redevelop real estate
assets and/or real estate related securities. As of December 31,
2016, the Company owned a property located at 77 Greenwich Street
(aka 28-42 Trinity Place) in Lower Manhattan, sometimes referred to
as the Trinity Place Property, and one of Lower Manhattan’s premier
development sites. As of December 31, 2016, the Company also owned
a retail strip center located in West Palm Beach, Florida and
former retail properties in Westbury, New York and Paramus, New
Jersey and a 50% joint venture interest in a multi-family property
located in Brooklyn, New York, called The Berkley. The Company’s
intellectual property includes rights related to the Filene's
Basement trademarks. In addition, as of September 30, 2016, the
Company also had approximately $225.3 million of Federal net
operating losses. More information on the Company can be found at
www.trinityplaceholdings.com.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements include, but are not limited
to, statements about our plans, objectives, expectations and
intentions that are not historical facts, and other statements
identified by words such as “may,” “will,” “expects,” “believes,”
“plans,” “anticipates,” “opportunity,” “current,” “seeks,”
“estimates,” or “potential,” or the negative thereof or other and
similar expressions. These forward-looking statements are based on
current expectations and projections about future events. Investors
are cautioned that forward-looking statements are not guarantees of
future performance or results and involve risks and uncertainties
that cannot be predicted or quantified, and, consequently, the
actual performance of the Company may differ materially from those
expressed or implied by such forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170217005760/en/
Trinity Place Holdings Inc.Linda Flynn,
212-235-2191Linda.Flynn@tphs.com
Trinity Place (AMEX:TPHS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Trinity Place (AMEX:TPHS)
Historical Stock Chart
From Apr 2023 to Apr 2024