The Company intends to use the net proceeds from this offering to voluntarily redeem all outstanding shares of its 7.125% Series 2016 Term Preferred Shares, with any remaining proceeds to pay down its revolving line of credit and for other general corporate purposes. Such voluntary redemption will be contingent upon the Company's successful completion of the public offering of its Series 2021 Term Preferred Shares in an amount sufficient to fully redeem all outstanding shares of its Series 2016 Term Preferred Shares.
Investors are advised to carefully consider the investment objectives, risks and charges and expenses of the Company before investing. The preliminary prospectus supplement and the accompanying prospectus, dated
The offering is being conducted as a public offering under the Company's effective shelf registration filed with the
This communication 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 or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
This press release may contain certain forward-looking statements which are based upon the Company's current expectations and are inherently uncertain. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under the Company's control, and that the Company may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual performance and results could vary materially from these estimates and projections of the future. Such statements speak only as of the time when made and are based on information available to the Company as of the date hereof and are qualified in their entirety by this cautionary statement. The Company assumes no obligation to revise or update any such statement now or in the future.
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