America First Multifamily Investors, L.P. Announces New Unit Repurchase Program
May 07 2021 - 8:15AM
America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the
“Partnership”), announced today that the Board of Managers (the
“Board”) of Greystone AF Manager LLC, which is the general partner
of the Partnership’s general partner, has authorized a new program
for the repurchase of up to 254,794 of the Partnership’s
outstanding Beneficial Unit Certificates representing assigned
limited partnership interests (“BUCs”).
Among other purposes of the program, repurchases are intended to
cover awards of Restricted Unit Awards (“RUAs”) under the
Partnership’s 2015 Equity Incentive Plan to employees of the
Partnership, or affiliates of the Partnership, or Board members.
Under the terms of the repurchase program, BUCs may be repurchased
from time to time at the Partnership’s discretion on the open
market, through block trades, or otherwise, subject to market
conditions, applicable legal requirements, and other
considerations. The authorization is effective immediately, and the
program will continue until otherwise modified or terminated by the
Board in its sole discretion and without notice. The repurchase
program does not obligate the Partnership to repurchase any
specific dollar amount or number of BUCs and may be suspended or
discontinued at any time.
About America First Multifamily Investors,
L.P.
America First Multifamily Investors, L.P. was
formed on April 2, 1998 under the Delaware Revised Uniform Limited
Partnership Act for the primary purpose of acquiring, holding,
selling and otherwise dealing with a portfolio of mortgage revenue
bonds which have been issued to provide construction and/or
permanent financing for affordable multifamily, student housing and
commercial properties. The Partnership is pursuing a business
strategy of acquiring additional mortgage revenue bonds and other
investments on a leveraged basis. The Partnership expects and
believes the interest earned on these mortgage revenue bonds is
excludable from gross income for federal income tax
purposes. The Partnership seeks to achieve its
investment growth strategy by investing in additional mortgage
revenue bonds and other investments as permitted by the
Partnership’s Amended and Restated Limited Partnership Agreement,
dated September 15, 2015, taking advantage of attractive financing
structures available in the securities market, and entering into
interest rate risk management instruments. America First
Multifamily Investors, L.P. press releases are available at
www.ataxfund.com.
Safe
Harbor
Statement
Certain statements in this report are intended
to be covered by the safe harbor for “forward-looking statements”
provided by the Private Securities Litigation Reform Act of
1995. These forward-looking statements generally can be
identified by use of statements that include, but are not limited
to, phrases such as “believe,” “expect,” “future,” “anticipate,”
“intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,”
“potential,” “continue,” or other similar words or
phrases. Similarly, statements that describe objectives,
plans, or goals also are forward-looking
statements. Such forward-looking statements involve
inherent risks and uncertainties, many of which are difficult to
predict and are generally beyond the control of the
Partnership. The Partnership cautions readers that a
number of important factors could cause actual results to differ
materially from those expressed in, implied, or projected by such
forward-looking statements. Risks and uncertainties
include, but are not limited to: risks involving current maturities
of financing arrangements and our ability to renew or refinance
such maturities, fluctuations in short-term interest rates,
collateral valuations, mortgage revenue bond investment valuations
and overall economic and credit market conditions; and the other
risks detailed in the Partnership’s SEC filings (including but not
limited to, the Partnership’s Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, and Current Reports on Form
8-K). Readers are urged to consider these factors
carefully in evaluating the forward-looking statements.
CONTACT: Jesse
CouryChief Financial
Officer402-952-1235
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