Kimco Realty Corporation (KIM) Announces Final Results of Tender Offer and Consent Solicitation

Kimco Realty Corporation (NYSE: KIM) has disclosed the final outcomes of its tender offer and consent solicitation in a recent announcement dated December 13, 2024. The company has successfully completed its tender offer to acquire all outstanding depositary shares representing a fraction of a share of the 7.25% Class N Cumulative Convertible Perpetual Preferred Stock. The purchase was set at a price of $62.00 per Security, along with accrued and unpaid dividends.

As per the report, the Company accepted a total of 409,772 Securities that were properly tendered and not withdrawn before the expiration date. This figure amounts to roughly 22.17% of the overall outstanding Securities as of December 12, 2024.

Regarding the Consent Solicitation, it was noted that less than two-thirds of the outstanding shares of Class N Preferred Stock provided the necessary consent for the proposed charter amendment. In effect, the required consents were not achieved, resulting in the proposed amendment not being carried out.

J.P. Morgan Securities LLC served as the Dealer Manager and Solicitation Agent for the tender offer and consent solicitation, while D.F. King & Co., Inc., acted as the Information Agent, and Equiniti Trust Company, LLC functioned as the Tender Agent.

Payment for the accepted Securities will be processed by the Tender Agent on December 16, 2024, correlating with the purchase price of $62.00 per Security, along with accrued dividends.

For further information on the matter, interested parties can direct their queries to the respective agents involved in the offer and solicitation.

The company’s press release regarding this development has been filed as Exhibit 99.1 to the Form 8-K report. Investors and the public can find additional details in the disclosed materials.

This release contains forward-looking statements subject to several risks and uncertainties that could impact actual results substantially. Interested parties are advised to refer to the company’s SEC filings and other disclosures for ongoing updates on the matter.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kimco Realty’s 8K filing here.

Kimco Realty Company Profile

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.