Highlands REIT, Inc. is offering to buy up to 125,000,000 common shares for cash at $0.20 each, with a total offer value of up to $25.0 million. Investors face a fixed purchase price, odd-lot priority and pro rata treatment if more shares are tendered than the offer accepts.

Key Highlights

  • The offer covers as many as 125,000,000 common shares.
  • Highlands REIT expects to use cash on hand to fund purchases.
  • The company may increase the accepted share count by up to approximately 14,453,024 shares.

Highlands REIT, Inc. has announced an offer to purchase up to $25.0 million of its common stock through a self-tender offer. Each accepted share would be purchased for $0.20 in cash, net of applicable Withholding taxes and without interest.

Offer Caps Purchases at 125,000,000 Shares

The offer covers up to 125,000,000 common shares with a Par Value of $0.01 per share.

Oversubscription Could Limit Accepted Shares

That adjustment could increase the accepted amount by up to approximately 14,453,024 Shares. Highlands’ board approved the offer, while Highlands, the board, Computershare Trust Company, N.A. and Georgeson LLC are making no recommendation on whether stockholders should tender.