Current Report Filing (8-k)
March 25 2020 - 6:03AM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 24, 2020
SL GREEN REALTY CORP.
(Exact name of registrant as specified
in its charter)
Maryland
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1-13199
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13-3956775
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(State or other
jurisdiction
of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification Number)
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420 Lexington Avenue
New York, New York 10170
(Address of principal executive offices, including zip code)
|
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(212)
594-2700
(Registrants’
telephone number, including area code)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions(see General Instruction A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
Registrant
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Trading Symbol
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Title of Each Class
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Name of Each Exchange on
Which Registered
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SL
Green Realty Corp.
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SLG
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Common Stock, $0.01 par value
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New York Stock Exchange
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SL
Green Realty Corp.
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SLG.PRI
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6.500%
Series I Cumulative Redeemable Preferred Stock, $0.01 par value, $25.00 mandatory liquidation preference
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New York Stock Exchange
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Indicate by check mark whether the registrant is an emerging
growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth
company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ¨
On March 24, 2020, SL
Green Realty Corp. (the “Company” or “SL Green”) made the statement set forth below.
The sale of 220 East 42nd Street for
total consideration of $815.0 million will not move forward at this time due to the buyer’s inability to close the
transaction. The Company has taken action to collect the $35.0 million contract deposit. While other sale or financing
options are being considered, the tower, also known as The News Building, remains a high-quality asset within SL
Green’s unencumbered portfolio. The office tower is currently 97 percent leased.
A portion of the net cash proceeds from
the sale of 220 East 42nd Street was expected to be used for SL Green’s share repurchase program. Because
the transaction is not moving forward, and in keeping with the Company’s commitment to maintain substantial corporate liquidity
and a low leverage balance sheet, share repurchases under the Company’s share repurchase program will be temporarily curtailed,
although SL Green may resume repurchases under appropriate market conditions consistent with its liquidity objectives.
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Item 9.01
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Financial Statements and Exhibits.
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(d) Exhibits
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104
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Cover Page Interactive Data File - the cover page XBRL tags are embedded
within the Inline XBRL document.
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SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly
authorized.
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SL GREEN REALTY CORP.
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/s/ Andrew S. Levine
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Andrew S. Levine
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Executive Vice President, Chief Legal Officer and General Counsel
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Date: March 25, 2020
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