Modiv Inc. Announces Pricing of a Public Offering of Common Stock
Modiv Inc. has priced an underwritten public offering of 40,000 shares of its Class C Common Stock at $25.00 per share, facilitating the stock's upcoming trading on the NYSE under the ticker 'MDV.' Expected trading begins on February 11, 2022, with closing anticipated on February 15, 2022. After the offering, the total shares of Class C Common Stock will number 7,561,211. The share conversion from Class S to Class C will also occur upon listing, and the Preferred Stock ticker will change from 'MDVA' to 'MDV.PRA.'
- Funds from the offering will facilitate the trading of Class C Common Stock, potentially increasing liquidity and investor interest.
- The conversion of Class S Common Stock into Class C Common Stock enhances shareholder value and simplifies the capital structure.
- Issuing additional shares may lead to dilution for current shareholders.
- Market conditions and risks associated with the offering may affect share performance upon listing.
Upon completion of the offering,
The bookrunning manager for the offering is
This offering is being made only by means of a prospectus. Copies of the final prospectus relating to these securities, when available, may be obtained from
A registration statement relating to these securities was declared effective by the
About
Forward-looking Statements
This press release contains certain forward-looking statements which are based upon the Company's current expectations and are inherently uncertain, including forward-looking statements with respect to the offering and trading of shares of the Company’s Class C common stock on the NYSE. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that may or may not be under the Company's control, and that the Company may or may not have considered. Accordingly, no assurances can be given that the securities offering discussed above will be completed on the terms described, or at all. Completion of the securities offering on the terms described are subject to numerous conditions, including, without limitation, market conditions and other risks and uncertainties as detailed under the caption "Risk Factors" in the Company’s registration statement on Form S-11. Any such forward-looking statements speak only as of the time when made and are based on information available to the Company as of such date and are qualified in their entirety by this cautionary statement. The Company assumes no obligation to revise or update any such statement now or in the future, unless required by law.
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FAQ
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