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Phillips Edison & Company, Inc. (NASDAQ:PECO), a real estate investment trust, has filed a new automatic shelf registration statement with the U.S. Securities and Exchange Commission (SEC). The new filing, which took effect on Thursday, replaces a previous registration statement from February 10, 2022.
The company, based in Cincinnati, Ohio, has also filed a prospectus supplement in conjunction with the new registration statement. This supplement continues an at-the-market offering of the company’s common stock, allowing for the sale of up to $250 million in shares. The offering is a continuation of a previous program under the prior registration statement.
Legal firm Ballard Spahr LLP confirmed the validity of the shares that may be issued under this offering in an opinion filed with the SEC. This document, along with the consent of Ballard Spahr LLP, is included as an exhibit to the company’s filing.
Phillips Edison & Company specializes in the ownership and management of grocery-anchored shopping centers. The new registration enables the company to issue securities promptly, providing flexibility for future financing needs.
The filing and the effectiveness of the new registration statement do not constitute an offer to sell or a solicitation of an offer to buy any securities. The sale of these securities will not proceed in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This news is based on a press release statement and is intended to inform investors about the recent SEC filing by Phillips Edison & Company. The announcement is strictly factual, providing details of the new registration statement and related legal validation without offering any opinion on the company’s financial position or market prospects.
In other recent news, Phillips Edison & Company, a real estate investment trust, has been making significant financial moves. The company recently expanded its Revolving Credit Facility to $1 billion, extending the maturity date to January 9, 2029. The updated agreement also revises the sustainability pricing adjustment for the Revolving Credit Facility, which will discontinue on April 1, 2025.
In addition, Phillips Edison & Company has entered into amendments to its credit agreements with three major financial institutions: Bank of America, KeyBank National Association, and Capital One (NYSE:COF), National Association. These amendments align with modifications previously made to the company’s credit agreement with PNC Bank. The details of these amendments have been filed with the U.S. Securities and Exchange Commission (SEC) and are incorporated by reference into the company’s Form 8-K.
These recent developments are part of Phillips Edison & Company’s ongoing financial management strategies, aiming to provide additional liquidity and flexibility. The full text of each credit agreement amendment and the Second Amendment to the Revolving Credit Facility has been made available to the public through the company’s SEC filings.
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