adijas
6 years ago
MedAmerica Properties Inc. Announces The Signing Of Definitive Merger Agreements With Shopping Center Owner Broad Street Realty, LLCPress Release | 05/31/2019
MedAmerica Properties Inc. Announces The Signing Of Definitive Merger Agreements With Shopping Center Owner Broad Street Realty, LLC
PR Newswire
BETHESDA, Md. and BOCA RATON, Fla., May 31, 2019
BETHESDA, Md. and BOCA RATON, Fla., May 31, 2019 /PRNewswire/ -- Broad Street Realty, LLC ("Broad Street"), Broad Street Ventures, LLC ("BSV") and MedAmerica Properties Inc. (OTC: MAMP) today announced that they have entered into 19 definitive merger agreements. Upon completion of the mergers, the resulting Company will be a fully integrated and self-managed public real estate company and will change its name to Broad Street Realty, Inc. The Company will own 17 regional shopping center properties with an aggregate of over two million square feet of gross leasable space in four states (CO, MD, PA and VA) and DC. The Company will have approximately 50 employees and be headquartered in Bethesda, Maryland with satellite offices in Denver, Colorado, Washington, D.C. and Manassas, Virginia.
Following the completion of the mergers, investors in the Broad Street, BSV and other Broad Street entities collectively will own 92.0% of the shares of common stock of the Company and current MedAmerica shareholders will own 8.0%. The Transactions are subject to customary representations, warranties, covenants and indemnification provisions as well as certain closing conditions. The parties expect the transaction to close before year end.
Commenting on the merger, Gary O. Marino, MAMP Chairman, said, "This merger with Broad Street is an evolutionary transaction for MedAmerica. Michael Jacoby and his associates have successfully grown their business over many years. MedAmerica shareholders will participate in the benefits of their hard work as continuing shareholders. Mike has done an admirable job in achieving this success as a private company. With access to the public capital markets, we expect this growth to accelerate."
Michael Z. Jacoby, Broad Street Chief Executive Officer, will serve as Chairman of the Board of Directors and as Chief Executive Officer of the Company, said, "We are very pleased to announce this merger and consider this a watershed moment in the continued success and growth of our organization. On behalf of my entire team at Broad Street Realty, we all look forward to continuing to serve the needs of all of our important stakeholders including but not limited to our investors and future shareholders, our customers, our lenders and our vendors."
Additional information regarding the transaction can be found in the Form 8-K filed with the Securities and Exchange Commission on May 31, 2019.
About Broad Street Realty
Broad Street Realty, LLC is a fully integrated and self-managed real estate company that owns, operates, develops and redevelops primarily grocery-anchored shopping centers and street retail-based properties in the Mid-Atlantic and Denver, Colorado markets. Broad Street is also a market-leading commercial real estate services firm that delivers cost-effective solutions for office, industrial and retail clients. The company has extensive experience in tenant representation, landlord representation, property acquisition and disposition, real estate development, project/construction management, finance, strategic consulting, property management and asset management.
About MedAmerica
MedAmerica Properties Inc. is a Delaware corporation pursuing the acquisition and management of well-located real estate with the intention of aggregating multiple properties with strong fundamentals in attractive geographic locations in the U.S.
db7
9 years ago
8k, "Item 1.02 Termination of a Material Definitive Agreement.
On April 20, 2016, the previously announced asset purchase agreement (the “Purchase Agreement”), dated February 16, 2016, between Banyan Rail Services Inc. (the “Corporation”), Thermocast Acquisition Corp., a Delaware corporation (“Thermocast Acquisition”) and a wholly-owned subsidiary of the Corporation, International Thermocast Corporation, a Georgia corporation, The Dekor Corporation, a Georgia Corporation (collectively, “Sellers”), and Mark Anderson, an individual resident of the State of Georgia and the sole shareholder of Sellers, for the purchase of Sellers’ business was terminated by Thermocast Acquisition. Thermocast Acquisition terminated the Purchase Agreement in accordance with its right to terminate such agreement pursuant to Section 8.1.5 thereunder.
Also on April 20, 2016, the previously announced Real Estate Purchase Agreement, dated February 16, 2016, between Thermocast Acquisition and Anderson Investment Management, Inc. (“Anderson Investment”), an affiliate of Sellers, for the purchase of Anderson Investment’s real property, including its buildings, improvements, easements and appurtenant rights and privileges, located at 189 Etowah Industrial Court, Canton, Georgia, was terminated. Thermocast Acquisition terminated the Real Estate Purchase Agreement in accordance with its right to terminate such agreement due to the parties’ failure to consummate the transactions contemplated by the Purchase Agreement.
All of the transactions contemplated in the Purchase Agreement and the Real Estate Purchase Agreement are collectively referred to as the “Transaction.”
"
Enterprising Investor
9 years ago
Banyan Rail Services Inc. Announces Agreement to Acquire International Thermocast Corporation and The Dekor Corporation (2/18/16)
BOCA RATON, Fla., Feb. 18, 2016 /PRNewswire/ -- Banyan Rail Services Inc. (OTC: BARA) executed an asset purchase agreement with International Thermocast Corporation and The Dekor Corporation, both Georgia Corporations (collectively, "Sellers"), and Mark Anderson, an individual resident of the State of Georgia and the sole shareholder of Sellers, for the purchase of Sellers' business of manufacturing and distributing composite kitchen and bath sinks and accessories including cast acrylic and granite sinks, cultured and synthetic marble vanity tops and other related goods and services (the "Business"). The purchase price for the Business is $4,510,000, consisting of cash payments, common stock, and assumed liabilities, subject to a closing adjustment.
In addition, Banyan executed a Real Estate Purchase Agreement with Anderson Investment Management, Inc. ("Anderson Investment"), an affiliate of Sellers, for the purchase of Anderson Investment's real property, located at 189 Etowah Industrial Court, Canton, Georgia. The purchase price for the real property is $3,800,000.
The Purchase Agreement and the Real Estate Purchase Agreement contain customary representations, warranties, covenants and indemnification provisions. The consummation of these transactions depends upon the satisfaction or waiver of a number of customary closing conditions and the receipt of consents and regulatory approvals.
"This acquisition is the first step in the long term growth and reorganization strategy of Banyan. Thermocast is an industry leader in the manufacture and distribution of composite and synthetic marble kitchen and bath sinks and provides a strong platform base for future acquisitions. In addition, we are excited to add Mark Anderson and his 20 years of experience in the industry to our team," said Jon Ryan, President and Chief Executive Officer of Banyan.
A portion of the purchase price will be paid in newly-issued Banyan stock and the company intends to obtain debt financing for the remainder.
http://www.prnewswire.com/news-releases/banyan-rail-services-inc-announces-agreement-to-acquire-international-thermocast-corporation-and-the-dekor-corporation-300222300.html
$hellKing
10 years ago
The Company’s board of directors and officers directly or beneficially own 5,976,375 shares of common stock as of March 31, 2015 or 5,981,375, if their options are exercised.
As of March 31, 2015, the Company sold 1,622,222 shares of common stock in the amount of $292,000. The proceeds were used to fund working capital requirements. The shares will be issued in May 2015.
As of May 7, 2015, the Company sold an additional 672,222 shares of common stock as part of a continuing private placement of common stock in the amount of $121,000. The proceeds were used to fund working capital requirements. The shares will be issued in May 2015.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10694824
$hellKing
10 years ago
AS very very low and about maxed out by insiders
Share Structure
Market Value1 $3,862,385 a/o Jul 27, 2015
Authorized Shares 7,500,000 a/o May 12, 2012
Outstanding Shares 6,437,309 a/o May 13, 2015
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value 0.01