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Tuesday, February 05, 2013 8:43:14 AM
SAN DIEGO, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (Nasdaq:ROIC) announced today that NRDC Capital Management, LLC has exercised all of their 8.0 million warrants. NRDCs warrants were exercisable for ROIC's common stock at a price of $12.00 per share. NRDC exercised all of their warrants on a cashless basis. Based on common share price of $13.13 per share, ROIC issued 688,500 shares of common stock in a private placement to NRDC.
Richard A. Baker, Chairman of the Board of Retail Opportunity Investments Corp. stated, "The managers of NRDC Capital Management, William L. Mack, Robert C. Baker, Lee S. Neibart, one of ROIC's directors, and myself, are pleased to have converted all of our warrants into shares of ROIC's common stock. We continue to be impressed with ROIC's management team and their implementation of the company's business plan in creating one of the premier shopping center REITs on the West Coast."
In addition to the exercise of the warrants by NRDC, to date other warrant holders have exercised 497,637 warrants, providing ROIC with approximately $6.0 million of proceeds. ROIC intends to provide information regarding future exercises of warrants on a quarterly basis.
ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.
Retail Opportunity Investments Corp. (Nasdaq:ROIC) is a fully integrated, self-managed real estate investment trust. The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. At September 30, 2012, ROIC's property portfolio included 40 shopping centers totaling approximately 4.3 million square feet. Additional information is available at www.roicreit.net.
http://globenewswire.com/news-release/2013/02/05/520822/10020566/en/Retail-Opportunity-Investments-Corp-Announces-NRDC-Capital-Management-Exercises-All-of-Its-8-0-Million-Warrants.html
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
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