Indus Announces Receipt of CFIUS Approval
June 23 2023 - 7:30AM
Business Wire
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”) a U.S.-based industrial/logistics REIT, announced
that it has received written notice from the Committee on Foreign
Investment in the United States (“CFIUS”) that it has concluded its
review and cleared the transaction contemplated by the previously
announced Agreement and Plan of Merger, dated as of February 22,
2023 (the “Merger Agreement”) by and among the Company, IR Parent,
LLC, a Delaware limited liability company (“Parent”), and IR Merger
Sub II, Inc., a Maryland corporation and a wholly-owned subsidiary
of Parent (the transaction contemplated thereby, the “Merger”).
All regulatory approvals required to close the Merger pursuant
to the Merger Agreement have now been received. The parties
currently expect to close the Merger on June 29, 2023, subject to
the satisfaction or waiver of the remaining closing conditions set
forth in the Merger Agreement.
About INDUS
INDUS is a real estate business principally engaged in
developing, acquiring, managing, and leasing industrial/logistics
properties. INDUS owns 44 industrial/logistics buildings
aggregating approximately 6.6 million square feet in Connecticut,
Pennsylvania, North Carolina, South Carolina, and Florida.
Cautionary Statement Regarding
Forward-Looking Statements
Some of the statements contained in this release constitute
forward-looking statements within the meaning of the federal
securities laws. 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. You
can also identify forward-looking statements by discussions of
strategy, plans or intentions.
The forward-looking statements contained in this release reflect
the Company’s current views about future events, including the
expected timing of the closing of the Merger, and are subject to
numerous known and unknown risks, uncertainties, assumptions and
changes in circumstances, many of which are beyond the control of
the Company, that may cause actual results and future events to
differ significantly from those expressed in any forward-looking
statement, which risks and uncertainties include, but are not
limited to: the ability to complete the proposed Merger on the
proposed terms or on the anticipated timeline, or at all, including
risks and uncertainties related to satisfaction of certain closing
conditions to consummate the Merger; the occurrence of any event,
change or other circumstance that could give rise to the
termination of the Merger Agreement relating to the proposed
Merger; risks that the proposed Merger disrupts the Company’s
current plans and operations or diverts the attention of the
Company’s management or employees from ongoing business operations;
the risk of potential difficulties with the Company’s ability to
retain and hire key personnel and maintain relationships with
customers and other third parties as a result of the proposed
Merger; the failure to realize the expected benefits of the
proposed Merger; the risk that the proposed Merger may involve
unexpected costs and/or unknown or inestimable liabilities; the
risk that the Company’s business may suffer as a result of
uncertainty surrounding the proposed Merger; the risk that
stockholder litigation in connection with the proposed Merger may
affect the timing or occurrence of the proposed Merger or result in
significant costs of defense, indemnification and liability;
effects relating to the announcement of the Merger or any further
announcements or the consummation of the proposed Merger on the
market price of the Company’s common stock.
While forward-looking statements reflect the Company’s good
faith beliefs, they are not guarantees of future performance or
events. Any forward-looking statement speaks only as of the date on
which it was made. 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. 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 section entitled “Risk Factors” in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2022, filed
with the SEC on March 6, 2023, as updated by the Company’s
subsequent periodic reports filed with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20230623775377/en/
Ashley Pizzo Vice President, Capital Markets &
IR (212) 218-7914 apizzo@indusrt.com Jon
Clark Executive Vice President, Chief Financial Officer
(860) 286-2419 jclark@indusrt.com
INDUS Realty (NASDAQ:INDT)
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