Strawberry Fields REIT Completes Dual-Listing and Begins Trading on the Tel Aviv Stock Exchange

Rhea-AI Summary

Strawberry Fields REIT, Inc. (NYSE American: STRW) has completed a dual-listing and started trading on the Tel Aviv Stock Exchange under the ticker symbol STRW. The company aims to attract a more diverse group of Israeli investors and build on its successful track record of issuing bond series. Trading on the TASE will complement its existing NYSE American listing, with trading hours running from Sunday to Thursday. The company will abide by the regulations of both the TASE and the U.S. securities authorities.

Insights

Financial Analyst

The move by Strawberry Fields REIT to complete a dual-listing and begin trading on the Tel Aviv Stock Exchange (TASE) can be seen as a strategic endeavor to broaden their investor base and potentially increase liquidity. Historically, companies that expand their listings to foreign exchanges may attract international investors who are looking for diversified real estate holdings. However, it's important to analyze the financial implications such as the costs associated with maintaining listings on multiple exchanges, potential currency exchange risks and the impact on the company's capital structure. It's also worth considering the signaling effect this may have on the market: it could be perceived as a positive growth indicator or, conversely, as a search for capital in a market more familiar with the company due to past institutional investments from that region.

Market Research Analyst

From the market perspective, entering the TASE could potentially increase Strawberry Fields REIT's exposure to Israeli investors, who are already somewhat familiar with the company through previous bond issuances. It's noteworthy that the Israeli market may have different investor behaviors and expectations compared to American investors, which could influence stock performance on the TASE differently from that on the NYSE American. Additionally, the different trading hours and holiday schedules between the two exchanges might lead to slight discrepancies in stock pricing due to information lag or local market events, providing arbitrage opportunities for keen investors.

South Bend, Indiana--(Newsfile Corp. - April 22, 2024) - Strawberry Fields REIT, Inc. (NYSE American: STRW) ("Strawberry Fields" or the "Company"), today announced that it has been approved by the Tel Aviv Stock Exchange ("TASE") and that it has begun trading under the ticker symbol STRW. Trading on the TASE will be in addition to the Company's current listing on the NYSE American.

Moishe Gubin Chairman & CEO said: "We are excited to be completing our dual listing and to begin trading on the TASE. The Company has grown over the last 10 years with the support of institutional Israeli Investment Companies as we have successfully issued four bond series. We are proud to continue this relationship and we believe that the dual listing will produce a larger/more diverse group of Israeli investors." Gubin further continued, "As the Company currently owns 109 healthcare facilities and is looking to expand, we look forward to continuing to work with the Israeli investors and producing strong returns."

Trading on the Tel Aviv Stock Exchange occurs Sunday through Thursday from 9:45am to 4:30pm Israel time, except on trading holidays recognized by the Tel Aviv Stock Exchange. The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. stock exchange.

The Company will continue to be subject to the rules and regulations of the NYSE American and the U.S. Securities and Exchange Commission.

ABOUT STRAWBERRY FIELDS REIT

Strawberry Fields REIT is a self-managed and self-administered Company that specializes in the acquisition, ownership and triple-net leasing of Skilled Nursing Facilities and other post-acute Healthcare properties. Currently, our portfolio consists of 100+ Healthcare facilities with an aggregate of 12k+ licensed beds. Our Facilities are located across Arkansas, Illinois, Indiana, Kentucky, Michigan, Ohio, Oklahoma, Tennessee and Texas. The Company is traded on the NYSE American under the symbol "STRW".

Safe Harbor Statement

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, statements regarding: future financing plans, business strategies, growth prospects and operating and financial performance; expectations regarding the making of distributions and the payment of dividends; and compliance with and changes in governmental regulations.

Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could have a material adverse effect on our operations and future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to: (i) the COVID-19 pandemic and the measures taken to prevent its spread and the related impact on our business or the businesses of our tenants; (ii) the ability and willingness of our tenants to meet and/or perform their obligations under the triple-net leases we have entered into with them, including, without limitation, their respective obligations to indemnify, defend and hold us harmless from and against various claims, litigation and liabilities; (iii) the ability of our tenants to comply with applicable laws, rules and regulations in the operation of the properties we lease to them; (iv) the ability and willingness of our tenants to renew their leases with us upon their expiration, and the ability to reposition our properties on the same or better terms in the event of nonrenewal or in the event we replace an existing tenant, as well as any obligations, including indemnification obligations, we may incur in connection with the replacement of an existing tenant; (v) the availability of and the ability to identify (a) tenants who meet our credit and operating standards, and (b) suitable acquisition opportunities, and the ability to acquire and lease the respective properties to such tenants on favorable terms; (vi) the ability to generate sufficient cash flows to service our outstanding indebtedness; (vii) access to debt and equity capital markets; (viii) fluctuating interest rates; (ix) the ability to retain our key management personnel; (x) the ability to maintain our status as a real estate investment trust ("REIT"); (xi) changes in the U.S. tax law and other state, federal or local laws, whether or not specific to REITs; (xii) other risks inherent in the real estate business, including potential liability relating to environmental matters and illiquidity of real estate investments; and (xiii) any additional factors included under "Risk Factors" in our Annual Report Form 10-K dated March 19, 2024, including in the section entitled "Risk Factors" in Item 1A of Part I of such report, as such risk factors may be amended, supplemented or superseded from time to time by other reports we file with the SEC.

Forward-looking statements speak only as of the date of this press release. Except in the normal course of our public disclosure obligations, we expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any statement is based.

Investor Relations:
Strawberry Fields REIT, Inc.
IR@sfreit.com
+1 (773) 747-4100 x422

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206282

FAQ

When did Strawberry Fields REIT begin trading on the Tel Aviv Stock Exchange?

Strawberry Fields REIT began trading on the Tel Aviv Stock Exchange after being approved by TASE. The trading hours are from Sunday to Thursday.

What is the ticker symbol for Strawberry Fields REIT on the Tel Aviv Stock Exchange?

The ticker symbol for Strawberry Fields REIT on the Tel Aviv Stock Exchange is STRW.

How many healthcare facilities does Strawberry Fields REIT currently own?

Strawberry Fields REIT currently owns 109 healthcare facilities.

What are the trading hours for the Tel Aviv Stock Exchange?

The trading hours for the Tel Aviv Stock Exchange are from 9:45 am to 4:30 pm Israel time, Sunday through Thursday.

What are the regulatory bodies that Strawberry Fields REIT is subject to?

Strawberry Fields REIT is subject to the rules and regulations of the NYSE American and the U.S. Securities and Exchange Commission.