Welcome to our dedicated page for Belpointe REIT news (Ticker: BELP), a resource for investors and traders seeking the latest updates and insights on Belpointe REIT stock.
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Belpointe PREP and Belpointe REIT announced an extension of their exchange offer until June 18, 2021. As of May 26, 2021, 461,302 shares, about 44.70% of outstanding stock, were tendered. Belpointe PREP anticipates the offer will be completed soon after the extension, pending remaining conditions. Additionally, Belpointe PREP plans to offer up to $750 million of Class A units at $100 each, seeking to be listed on NYSE American under the symbol 'OZ.' This initiative aims to enhance investments in qualified opportunity zones across the U.S.
Belpointe PREP has signed an Agreement and Plan of Merger to acquire Belpointe REIT, exchanging each share of REIT stock for 1.05 Class A units of PREP. The exchange offer starts on April 28, 2021, and ends on May 27, 2021, unless extended. This merger aims to transition Belpointe REIT to a publicly traded partnership, enhancing liquidity and tax benefits for investors by acquiring stabilized assets in opportunity zones. Belpointe PREP plans to list its Class A units on NYSE American under the symbol 'OZ' and is expected to raise up to $750 million in a primary offering.
