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Amrep Corp Announces Rights Offering


Tuesday, 21 May 2013 11:50am EDT 

Amrep Corp announced that it 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. 

Company Quote

5.1
-0.1 -1.92%
15 Sep 2014