SAN DIEGO, March 15, 2013 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (Nasdaq:ROIC) announced today that 57.3% of the company's total outstanding warrants have been retired to date, including: 12,570,226 warrants exercised, providing ROIC with approximately $150.8 million of proceeds; 7,750,000 warrants repurchased by ROIC in privately negotiated transactions for approximately $10.7 million; and, as previously announced, 8,000,000 founders' warrants exercised on a cashless basis. The expiration date of the remaining outstanding warrants is October 23, 2014. ROIC intends to utilize the proceeds to pay down borrowings on its unsecured credit facility, fund future shopping center acquisitions and for general corporate purposes. At March 15, 2013, ROIC had approximately $12.0 million outstanding on its unsecured credit facility and a total debt to market capitalization ratio of approximately 25%, based on total debt outstanding of approximately $293.6 million and 66.3 million shares of common stock outstanding.
Retail Opportunity Investments Corp. Provides Warrant Update
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