Armada Hoffler Properties Inc.
09/27/2024 | Press release | Distributed by Public on 09/27/2024 14:32
Material Event Form 8 K
Item 8.01 Other Events.
On September 25, 2024, Armada Hoffler Properties, Inc. (the "Company") and Armada Hoffler, L.P. entered into an underwriting agreement (the "Underwriting Agreement") with Jefferies LLC, BofA Securities, Inc. and Barclays Capital Inc., as representatives of the underwriters named therein (the "Underwriters"). Pursuant to the terms and conditions of the Underwriting Agreement, the Company agreed to sell 9,000,000 shares of its common stock, $0.01 par value per share ("Common Stock"), at a public offering price of $10.50. Pursuant to the terms of the Underwriting Agreement, the Company granted the Underwriters a 30-day option to purchase up to an additional 1,350,000 shares of Common Stock, which was exercised in full on September 26, 2024. The Common Stock was offered and sold pursuant to a prospectus supplement, dated September 25, 2024, and a base prospectus, dated February 28, 2024, relating to the Company's effective shelf registration statement on Form S-3 (File No. 333-270080). The closing of the offering occurred on September 27, 2024. Louis S. Haddad, the Company's Chief Executive Officer and the Executive Chairman of its Board of Directors (the "Board"), Daniel A. Hoffler, the Chairman Emeritus of the Board, and A. Russell Kirk, F. Blair Wimbush, James C. Cherry, James A. Carroll and George F. Allen, each of whom is a member of the Board, purchased 95,238, 95,238, 95,238, 9,523, 4,761, 2,857 and 952, respectively, shares of Common Stock in the offering at the public offering price.
A copy of the Underwriting Agreement is filed herewith as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The summary set forth above is qualified in its entirety by reference to Exhibit 1.1.