Office Properties Income Trust filed SEC Form 8-K: Unregistered Sales of Equity Securities
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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In this Current Report on Form 8-K, the terms “we”, “us”, “our” and “the Company” refer to Office Properties Income Trust.
| Item 3.02 | Unregistered Sales of Equity Securities. |
Between August 1, 2024 and September 16, 2024, we entered into a series of privately negotiated exchange agreements, under which we have issued an aggregate of 2,554,489 common shares of beneficial interest, par value $.01 per share (“Common Shares”), in exchange for $6,800,000 aggregate principal amount of our issued and outstanding 4.500% Senior Notes due 2025 (the “Private Exchanges”). We may engage in similar transactions in the future but are under no obligation to do so. Based on the aggregate principal amount of 4.500% Senior Notes due 2025 exchanged plus $16,225 aggregate accrued interest thereon through the relevant date of exchange, the Common Shares issued had an average implied value of approximately $2.19 per share.
Pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended, the Common Shares issued in the Private Exchanges were issued in each case to existing security holders of the Company exclusively in exchange for such holders’ securities and no commission or other remuneration was paid or given for soliciting the exchange. Other exemptions may apply.
This Current Report on Form 8-K does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
As of September 16, 2024 the Company has 53,344,617 Common Shares outstanding.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| OFFICE PROPERTIES INCOME TRUST | ||
| By: | /s/ Brian E. Donley | |
| Name: | Brian E. Donley | |
| Title: | Chief Financial Officer and Treasurer | |
Dated: September 17, 2024