AVENTURA, Fla., Dec. 26, 2013 (GLOBE NEWSWIRE) -- Trade Street Residential, Inc. (Nasdaq:TSRE) ("Trade Street" or the "Company"), announced today the commencement of its previously announced $100 million fully-backstopped common stock rights offering ("Rights Offering") to its stockholders. Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock on December 16, 2013, the record date for the rights offering, one transferable right for every share of common stock owned. Each right will entitle the holder to purchase 1.3775 shares of common stock at a subscription price of $6.33 per share. The rights offering will expire at 5:00 p.m., New York City time, on January 10, 2014, unless extended by the Board of Directors. The rights will trade on the NASDAQ Global Market ("NASDAQ") under the symbol "TSRER" during the period commencing on December 26, 2013 and ending on January 9, 2014. The Company will voluntarily delist the rights on the NASDAQ on January 9, 2014 in order to allow trades in the rights to settle and purchasers of rights to exercise their subscription rights prior to the expiration of the Rights Offering on January 10, 2014. Because the rights will cease trading on the NASDAQ on January 9, 2014, the rights will not trade on the NASDAQ during any extension period.
Trade Street Residential Announces Commencement Of Rights Offering
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts