This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AMREP Announces Record Date For Rights Offering

PRINCETON, N.J., May 21, 2013 /PRNewswire/ -- AMREP Corporation (the "Company") (NYSE:AXR) expects to distribute to the holders of its common stock, non-transferable subscription rights (the "Rights") that will enable its shareholders to purchase an aggregate of 1,199,242 shares of its common stock.  The Rights will be distributed to the holders of record of its common stock as of the close of business on May 31, 2013 (the "Record Date") on the basis of one Right for each share of its common stock.  Each Right can be exercised to purchase two-tenths (0.2) of a share for each share of its common stock (the "Rights Offering").  The price per whole share at which shareholders may exercise the Rights (the "Subscription Price"), which will be determined shortly before the Rights Offering is made, is expected to be less than the then-existing market price of the Company's common stock when that price is set.

The Company has filed with the Securities and Exchange Commission a Registration Statement under the Securities Act of 1933 with respect to the Rights Offering.  The Rights Offering will be made only after the Registration Statement has become effective, which is presently expected to occur on or about May 23, 2013. 

Shortly after the effectiveness of the Registration Statement, the Company will mail to each shareholder as of the Record Date, (i) a final prospectus setting forth the terms of the Rights Offering and information about the Company (the "Final Prospectus"), (ii) a non-transferable subscription Rights certificate, which will evidence the shareholder's Rights and (iii) additional information to assist the shareholder in exercising Rights to purchase the Company's common stock.  The Subscription Price and the expiration date of the Rights will be shown in the Final Prospectus.  Shareholders should carefully review the Final Prospectus before taking any action with respect to the Rights Offering.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs