Urstadt Biddle Properties Inc. Announces Pricing of Series K Preferred Stock Offering

GREENWICH, Conn.--(BUSINESS WIRE)--Urstadt Biddle Properties Inc. (NYSE:UBA), a real estate investment trust (the “Company”), today announced the pricing of its underwritten public offering of 4,000,000 shares of its 5.875% Series K Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for net proceeds of $96.85 million, after deducting underwriting discounts and commissions but before expenses payable by the Company. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to an additional 600,000 shares of Series K Preferred Stock to cover overallotments, if any. The offering is subject to customary closing conditions and settlement is expected to occur on or about October 1, 2019. The Company intends to apply to list the Series K Preferred Stock on the NYSE under the symbol “UBPPRK”.