FREEHOLD, N.J., May 18, 2011 /PRNewswire/ -- UMH Properties, Inc.
(NYSE Amex: UMH) today announced the launch of an underwritten
public offering of 1,000,000 shares of the Company's Series A
Cumulative Redeemable Preferred Stock, under an existing shelf
registration statement. The underwriters are expected to be granted
a 30-day over-allotment option to purchase up to an additional
150,000 shares of the Company's Series A Cumulative Redeemable
Preferred Stock. The Company will apply to list the shares of
Series A Preferred stock on the NYSE Amex.
The proceeds of the offering are to be used for acquisitions and
other general corporate purposes, including possible repayment of
indebtedness. The sole bookrunning manager for the offering
is J.P. Morgan Securities LLC. Co-managers for the offering are
CSCA Capital Advisors LLC, KeyBanc Capital Markets LLC, and Sandler
O'Neill + Partners, L.P.
UMH, a publicly-owned REIT, owns and operates thirty-five
manufactured home communities located in New Jersey, New
York, Pennsylvania,
Ohio and Tennessee. In addition, the Company owns
a portfolio of REIT securities.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction. Any offer of the securities will be
made only by means of a prospectus, forming part of the effective
registration statement, the applicable preliminary prospectus
supplement and other related documents. Copies of the prospectus
and the prospectus supplement, subject to completion, relating to
these securities may be obtained from J.P. Morgan Securities LLC.
You should direct any requests to J.P. Morgan Securities, LLC, 383
Madison Avenue, New York, New
York, by phone: 212-834-4533, or by fax: 212-834-6081. You
may also obtain a copy of the prospectus and the prospectus
supplement, subject to completion, and other documents the Company
has filed with the Securities and Exchange Commission for free by
visiting the Commission's Web site at http://www.sec.gov.
Certain statements included in this press release which are not
historical facts may be deemed forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Although
the Company believes the expectations reflected in any
forward-looking statements are based on reasonable assumptions, the
Company can provide no assurance those expectations will be
achieved. These risks include, among others, changes in the
general economic climate, increased competition in the geographic
areas in which the Company operates, changes in government laws and
regulations and the ability of the Company to continue to identify,
negotiate and acquire properties on terms favorable to the Company.
Additional information concerning these and other factors that
could cause actual results to differ materially from those
forward-looking statements is contained from time to time in the
Company's SEC filings, including, but not limited to, Item 1A. Risk
Factors of the Company's Annual Report on Form 10-K for the year
ended December 31, 2010. Copies of
each filing may be obtained from the Company or the SEC.
Consequently, such forward-looking statements should be regarded
solely as reflections of the Company's current operating plans and
estimates. Actual operating results may differ materially from what
is expressed or forecast in this press release. Except as otherwise
required by applicable securities law, the Company undertakes no
obligation to publicly release the results of any revisions to
these forward-looking statements that may be made to reflect events
or circumstances after the date these statements were made.
SOURCE UMH Properties, Inc.