Trinity Place Holdings Inc (TPHS)

[Enterprising Investor]

Trinity Place Holdings Inc. Extends Rights Offering Expiration Date To Thursday, December 3, 2015 (11/30/15)

NEW YORK--(BUSINESS WIRE)--Trinity Place Holdings Inc. (the “Company”) (OTC:TPHS) announced today that it has extended the expiration date for its rights offering from Monday, November 30, 2015 to Thursday, December 3, 2015. The subscription rights issued by the Company may now be exercised at any time prior to 5:00 p.m. New York City time on Thursday, December 3, 2015.

Under the terms of the rights offering, the Company distributed 0.248362 non-transferable subscription rights to purchase shares of its common stock, for each share of its common stock held by a stockholder as of 5:00 p.m., New York time on the record date of November 4, 2015, as more fully described in the prospectus relating to the rights offering. Each whole subscription right entitles the holder to purchase one share of common stock at a subscription price equal to $6.00 per share. Holders as of the record date that exercise their basic subscription rights in full also have oversubscription rights, pursuant to which they may be able to purchase additional shares at the subscription price to the extent that not all subscription rights are exercised, subject to certain limitations and as more fully described in the prospectus.

During the extended subscription period for the rights offering, each holder of non-transferrable subscription rights may exercise those rights that have not already been exercised. Other than the extension of the expiration date of the rights offering, all of the offering terms described in the prospectus dated November 5, 2015 remain the same and apply during the extended subscription period of the rights offering.

The Company has engaged D.F. King & Co., Inc. to act as information agent with respect to the rights offering. For questions regarding the rights offering, or to obtain copies of the rights offering prospectus and any related materials, please contact D.F. King & Co., Inc. at [phone].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About Trinity Place Holdings Inc.

Trinity Place Holdings currently has significant real estate in three states, a variety of consumer-sector intellectual property rights and significant net operating losses. Trinity’s assets include real estate in the Westbury, New York, Paramus, New Jersey, and West Palm Beach, Florida markets, as well as “Trinity Place,” one of Lower Manhattan’s premier development sites. Trinity intellectual property includes rights related to the Filene's Basement trademarks. The company is currently traded OTC under the symbol TPHS. Its current assets are the legacy of certain Syms Corp. and Filene’s Basement holdings as a result of those companies having emerged from Chapter 11 bankruptcy under a plan of reorganization in September 2012. More information on the Company can be found at www.trinityplaceholdings.com.

http://www.businesswire.com/news/home/20151130006355/en/Trinity-Place-Holdings-Extends-Rights-Offering-Expiration