LOS ANGELES, July 12, 2021 /PRNewswire/ -- Rexford Industrial
Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR),
a real estate investment trust focused on creating value by
investing in and operating industrial properties in Southern California infill markets, announced
today it intends to redeem all 3,600,000 outstanding shares of its
5.875% Series A Cumulative Redeemable Preferred Stock (CUSIP:
76169C 209). Series A Preferred Stock held through the
Depository Trust Company will be redeemed in accordance with the
applicable procedures of the Depository Trust Company.
![(PRNewsfoto/Rexford Industrial Realty, Inc.) (PRNewsfoto/Rexford Industrial Realty, Inc.)](https://mma.prnewswire.com/media/1168550/Rexford_Industrial_Realty_Logo.jpg)
The redemption date will be August
16, 2021. The Series A Preferred Stock will be
redeemed for $25.00 per share, plus
all accrued and unpaid dividends to, but not including, the
redemption date in an amount equal to $0.183594 per share, for a total payment of
$25.183594 per share, which will be
payable in cash, without interest, on the redemption date.
After the redemption date, Series A Preferred Stock will no longer
be deemed outstanding and all the rights of the holders of Series A
Preferred Stock will terminate, except the right to receive the
redemption price. In addition, because all the issued and
outstanding shares of Series A Preferred Stock are being redeemed,
the Series A Preferred Stock will no longer trade on the New York
Stock Exchange after the redemption date. The Series A
Preferred Stock currently trades on the NYSE under the symbol
REXR-PA.
The notice of redemption and related materials are being mailed
to holders of record of Series A Preferred Stock as of July 12, 2021. As specified in the notice
of redemption, payment of the applicable redemption price, plus any
accrued and unpaid dividends payable on the redemption date,
without interest, will be made only upon presentation and surrender
of the certificates representing the Series A Preferred Stock to
the redemption agent, American Stock Transfer & Trust Company,
LLC.
Questions regarding the redemption of the Series A Preferred
Stock may be directed to American Stock Transfer & Trust
Company, LLC at:
American Stock Transfer & Trust Company, LLC
Operations Center
6201 15th Avenue
Brooklyn, NY 11219
Attention: Reorganization Department
Tel.: (800) 937-5449
Contact
Investor Relations
Kosta Karmaniolas
310-691-5475
kkarmaniolas@rexfordindustrial.com
About Rexford Industrial
Rexford Industrial, a real
estate investment trust focused on creating value by investing in
and operating industrial properties throughout Southern California infill markets, owns 266
properties with approximately 33.0 million rentable square feet and
manages an additional 20 properties with approximately 1.0 million
rentable square feet.
For additional information, visit www.rexfordindustrial.com.
Safe Harbor Statement
This press release contains
forward-looking statements within the meaning of the federal
securities laws, which are based on current expectations, forecasts
and assumptions that involve risks and uncertainties that could
cause actual outcomes and results to differ materially.
Forward-looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or
trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking
statements by the use of forward-looking terminology such as "may,"
"will," "should," "expects," "intends," "plans," "anticipates,"
"believes," "estimates," "predicts," or "potential" or the negative
of these words and phrases or similar words or phrases which are
predictions of or indicate future events or trends and which do not
relate solely to historical matters. While forward-looking
statements reflect the Company's good faith beliefs, assumptions
and expectations, they are not guarantees of future performance.
For a further discussion of these and other factors that could
cause the Company's future results to differ materially from any
forward-looking statements, see the reports and other filings by
the Company with the U.S. Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ended December 31, 2020, and the
Company's most recent Form 10-Q. The Company disclaims any
obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
of new information, data or methods, future events or other
changes.
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SOURCE Rexford Industrial Realty, Inc.