Item 7.01. Regulation FD Disclosure.
Pursuant to an information statement dated
The affirmative vote of the holders of a majority of the Company's preferred stock and a majority of the Company's common stock, each voting as a separate class, is required to approve the Sale. As of
# of Shares of Preferred Stock1 % of Outstanding Preferred Stock2 Consent 606.739 70.551% Withhold Consent 33.750 3.924% Abstain 1.50 0.174%
1 Voting results do not reflect the vote of any common stock in the Company held
by Franklin Street Properties Corp. ("
stockholder of the Company's one share of common stock and, pursuant to a
voting agreement, has agreed to vote that share in favor of the Sale if the
holders of a majority of the outstanding shares of preferred stock of the
Company vote in favor of the Sale.
2 Based on 860 shares of preferred stock in the Company issued and outstanding.
Update on the Potential Sale of the Property
The Company anticipates that the closing of the sale of the Property will take place on or about
Safe Harbor for Forward-Looking Statements
Statements in this Current Report on Form 8-K regarding the potential Sale of the Property and any other statements about future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to consummate the proposed transaction, disruptions in the debt markets, economic conditions, risks of a lessening demand for the real estate owned by the Company, changes in government regulations, geopolitical events and expenditures that cannot be anticipated such as utility rate and usage increases, unanticipated repairs, additional staffing, insurance increases and real estate tax valuation reassessments, and the other factors described in the Company's Annual Report on Form 10-K for the year ended