Trinity Place Holdings Inc. Announces Final Results of Rights Offering (4/05/17)
NEW YORK--(BUSINESS WIRE)--Trinity Place Holdings Inc. (the “Company”) (NYSE MKT:TPHS) announced today the final results of its previously announced common stock rights offering at a subscription price of $7.50 per share. An aggregate of 1,884,564 shares are being issued pursuant to the rights offering for aggregate gross proceeds to the Company of $14,134,230. A total of 31,228,005 shares of common stock will be issued and outstanding once all new shares have been delivered.
The rights offering was made pursuant to a Registration Statement on Form S-3 that was filed with the Securities and Exchange Commission and became effective on December 1, 2016. For questions about the rights offering, contact D.F. King & Co., Inc., the information agent for the rights offering, at (866) 751-6308.
About Trinity Place Holdings Inc.
Trinity Place Holdings Inc. is a real estate holding, investment and asset management company. The Company’s business is primarily to own, invest in, manage, develop or redevelop real estate assets and/or real estate related securities. Currently, the Company’s largest asset is a property located at 77 Greenwich Street in Lower Manhattan, sometimes referred to as the Trinity Place Property, and one of Lower Manhattan’s premier development sites. The Company also owns a retail strip center located in West Palm Beach, Florida, former retail properties in Westbury, New York and Paramus, New Jersey, and, through a joint venture, a 50% interest in a newly constructed 95-unit multi-family property, known as The Berkley, located in Brooklyn, New York. In addition, the Company had approximately $230.2 million of federal net operating losses at December 31, 2016. More information on the Company can be found at www.trinityplaceholdings.com.
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