Current Report Filing (8-k)
November 15 2019 - 6:26AM
Edgar (US Regulatory)
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): November 15, 2019
(November 11, 2019)
Manufactured Housing Properties Inc.
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(Exact name of registrant as specified in its charter)
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Nevada
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000-51229
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51-0482104
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(State or other jurisdictionof incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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136 Main Street, Pineville, North Carolina
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28134
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(Address of principal executive offices)
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(Zip Code)
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(980) 273-1702
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(Registrant’s telephone number, including area
code)
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(Former name or former address, if changed since last
report)
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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:
[ ]
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Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2
of the Securities Exchange Act of 1934.
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. [
]
Securities
registered pursuant to Section 12(b) of the Act: None
Entry into a Material Definitive Agreement.
Effective November 11, 2019, MHP Pursuits LLC (the
“Buyer”),
a wholly-owned subsidiary of Manufactured Housing Properties Inc.,
a Nevada corporation, entered into a purchase and sale agreement
(the “ARC Purchase
Agreement”) with The ARC
Investment Trust, a South Carolina trust (the
“Seller”)
for the asset purchase of 5 manufactured housing communities,
located in South Carolina, totaling 181 sites for a total purchase
price of $6.5
million.
The ARC Purchase Agreement includes an earnest money deposit of
$15,000, which will be applied to the payment of the purchase price
at closing, and provides for a due diligence period of 40 days for
the completion of third-party reports.
The ARC Purchase Agreement contains customary representations and
warranties. The closing of the ARC Purchase Agreement is subject to
customary closing conditions and delivery of customary closing
documents, including a special warranty deed for the ARC Property,
a Bill of Sale and General Assignment transferring the
Seller’s right, title and interest in the personal property,
intangible property, property files, warranties and licenses to the
Buyer, and an Assignment and Assumption Agreement, assigning to the
Buyer the Seller’s right, title and interest in all leases or
other rental or occupancy agreements for the ARC Property, and any
contract that the Buyer elects to assume.
The foregoing summary of the terms and conditions of the ARC
Purchase Agreement does not purport to be complete and is qualified
in its entirety by reference to the full text of the agreement
attached hereto as Exhibit 10.1, which is incorporated herein by
reference.
Item
9.01
Financial Statements and
Exhibits.
(d) Exhibits
Exhibit
No.
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Description of
Exhibit
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Purchase and Sale
Agreement, dated November 11, 2019, between MHP Pursuits LLC and
The ARC Investment Trust
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this current report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: November 15, 2019
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MANUFACTURED HOUSING PROPERTIES INC.
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By:
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/s/ Raymond M. Gee
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Raymond
M. Gee
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Chief Executive Officer
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