WEST BABYLON, N.Y.,
May 16, 2012 /PRNewswire-iReach/ --
Power REIT (AMEX: PW), an infrastructure focused real-estate
investment trust, today reported that on May
11, 2012 the Securities and Exchange Commission (SEC)
declared effective Power REIT's $100
million shelf registration statement on Form S-3.
Power REIT's Chairman and Chief Executive Officer said, "This
represents another milestone for Power REIT and its shareholders.
Management has been working over the past 12 months to position the
company and set the foundation for growth through acquisitions of
infrastructure real-estate. We are considering a number of
infrastructure investment opportunities to grow our business.
This shelf offering provides us with added flexibility in seeking
to efficiently access capital when needed to support our investment
strategy, which is intended to increase shareholder value and
dividends per share."
The company's infrastructure-focused business plan builds upon
its historical ownership of the Pittsburgh & West Virginia Railroad, which
is now a wholly owned subsidiary of Power REIT. The company's
business and growth plan was previously described in the investor
presentation that was released on May 7,
2012 and which is available on our website under "Investor
Relations" at www.pwreit.com.
Under the Form S-3, the Company may from time to time issue any
combination of common equity or common equity linked securities
(warrants, options or units) in any amounts up to an aggregate of
$100 million. The net proceeds of
offerings are intended to be used to fund new acquisitions
consistent with Power REIT's business plan. The Company does not
have any immediate plans to issue securities pursuant to the Form
S-3. The terms of any offering of securities made pursuant to the
shelf registration statement will be determined at the time of the
offering and disclosed in a prospectus supplement filed with the
SEC and distributed to prospectus investors.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any offer or sale of securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the laws of any such state. Any offer of
securities pursuant to the shelf registration statement shall be
made solely by means of the prospectus that forms a part of the
shelf registration statement and the prospectus supplement relating
to the offer.
Copies of Power REIT's public filings may be obtained at no
charge at the SEC's website at www.sec.gov, from the Power REIT
website at www.pwreit.com or by contacting Power REIT, 55 Edison
Avenue, West Babylon, NY 11704
Attn: Investor Relations, (212) 750-0373 or ir@pwreit.com.
Forward Looking Statements
This press release may contain include forward-looking
statements within the meaning of the Securities Act of 1933, as
amended, and Securities Exchange Act of 1934, as amended.
Forward-looking statements are those that predict or describe
future events or trends and that do not relate solely to historical
matters. You can generally identify forward-looking statements as
statements containing the words "believe," "expect," "will,"
"anticipate," "intend," "estimate," "would," "should," "project,"
"plan," "assume" or other similar expressions, or negatives of
those expressions, although not all forward-looking statements
contain these identifying words. All statements contained in this
press release regarding Power REIT's future strategy, future
operations, projected financial position, estimated future
revenues, projected costs, future prospects, the future of the
Power REIT's industries and results that might be obtained by
pursuing management's current or future plans and objectives are
forward-looking statements. Over time, Power REIT's actual results,
performance or achievements will likely differ from the anticipated
results, performance or achievements that are expressed or implied
by the Power REIT's forward-looking statements, and such difference
might be significant and materially adverse to Power REIT's
security holders.
All forward-looking statements reflect the Power REIT's good
faith beliefs, assumptions and expectations, but they are not
guarantees of future performance. Furthermore, Power REIT
disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions or factors, of new information, data or methods, future
events or other changes. For a further discussion of these
and other factors that could cause Power REIT's future results to
differ materially from any forward-looking statements, see the
section entitled "Risk Factors" in Power REIT's shelf registration
statement filed with the SEC on Form S-3/A on May 11, 2012, and other risks described in
documents subsequently filed by Power REIT from time to time with
the SEC.
Media Contact:
Arun Mittal Power REIT, 917-804-6533, amittal@pwreit.com
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SOURCE Power REIT