Fidelity SPDR Advertisement
Home > Boards > US OTC > Real Estate > W2007 Grace Acquisition I, Inc (WGCBP)

PFD Holdings, LLC owns 58.8% of Preferred Shares (8/13/13)

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
Enterprising Investor Member Profile
Member Level 
Followed By 164
Posts 5,686
Boards Moderated 27
Alias Born 04/05/09
160x600 placeholder
W2007 Grace Enters Into a Memorandum of Understanding Proposing to Settle the Preferred Shareholder Class Action "PR Newswire (US)" - 8/22/2014 4:46:00 PM
Enterprising Investor Member Level  Wednesday, 08/14/13 09:00:13 PM
Re: Enterprising Investor post# 62
Post # of 247 
PFD Holdings, LLC owns 58.8% of Preferred Shares (8/13/13)

IRVING, TEXAS — August 13, 2013 — W2007 Grace Acquisition I, Inc. (the “Company”) today announced that PFD Holdings, LLC (“PFD”), an affiliate of the Whitehall funds, notified the Company that it has recently acquired 24.3% of the aggregate amount of issued and outstanding Series B and Series C preferred shares of the Company, which acquired shares remain outstanding. PFD now owns 58.8% of the outstanding preferred shares.

PFD has also informed the Company of its intention to consider a tender offer for the remaining preferred shares of the Company later in 2013.

In light of these events, the Company has postponed the special meeting of the preferred shareholders for the purpose of electing two additional directors to the Company’s Board of Directors.

The Amended and Restated Charter of W2007 Grace Acquisition I, Inc. is available on the Company’s website, www.equityinns.com, and contains a description of the 8.75% Series B Cumulative Preferred Stock and 9.00% Series C Cumulative Preferred Stock.

CONTACT: W2007 Grace Acquisition I, Inc.
Dan Smith
Tel: (972) 368-2081

http://www.snl.com/Cache/1001178118.PDF?Y=&O=PDF&D=&FID=1001178118&T=&IID=103147

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (2) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist