Trinity Place Holdings Inc. (the “Company”) (OTC:TPHS) announced today
that it has extended the expiration date for its rights offering from
Monday, November 30, 2015 to Thursday, December 3, 2015. The
subscription rights issued by the Company may now be exercised at any
time prior to 5:00 p.m. New York City time on Thursday, December 3, 2015.
Under the terms of the rights offering, the Company distributed 0.248362
non-transferable subscription rights to purchase shares of its common
stock, for each share of its common stock held by a stockholder as of
5:00 p.m., New York time on the record date of November 4, 2015, as more
fully described in the prospectus relating to the rights offering. Each
whole subscription right entitles the holder to purchase one share of
common stock at a subscription price equal to $6.00 per share. Holders
as of the record date that exercise their basic subscription rights in
full also have oversubscription rights, pursuant to which they may be
able to purchase additional shares at the subscription price to the
extent that not all subscription rights are exercised, subject to
certain limitations and as more fully described in the prospectus.
During the extended subscription period for the rights offering, each
holder of non-transferrable subscription rights may exercise those
rights that have not already been exercised. Other than the extension of
the expiration date of the rights offering, all of the offering terms
described in the prospectus dated November 5, 2015 remain the same and
apply during the extended subscription period of the rights offering.
The Company has engaged D.F. King & Co., Inc. to act as information
agent with respect to the rights offering. For questions regarding the
rights offering, or to obtain copies of the rights offering prospectus
and any related materials, please contact D.F. King & Co., Inc. at (866)
796-7180.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state.
About Trinity Place Holdings Inc.
Trinity Place Holdings currently has significant real estate in three
states, a variety of consumer-sector intellectual property rights and
significant net operating losses. Trinity’s assets include real estate
in the Westbury, New York, Paramus, New Jersey, and West Palm Beach,
Florida markets, as well as “Trinity Place,” one of Lower Manhattan’s
premier development sites. Trinity intellectual property includes rights
related to the Filene's Basement trademarks. The company is currently
traded OTC under the symbol TPHS. Its current assets are the legacy of
certain Syms Corp. and Filene’s Basement holdings as a result of those
companies having emerged from Chapter 11 bankruptcy under a plan of
reorganization in September 2012. More information on the Company can be
found at www.trinityplaceholdings.com.
Forward Looking Statements
This release includes “forward-looking statements” which can be
identified by the fact that they do not relate strictly to historical or
current facts. These statements contain words such as “may,” “will,”
“expect,” or the negative or other variations thereof or comparable
terminology. These forward-looking statements are based on current
expectations and projections about future events. Investors are
cautioned that forward-looking statements are not guarantees of future
performance or results and involve risks and uncertainties that cannot
be predicted or quantified, and, consequently, the actual performance of
the Company may differ materially from those expressed or implied by
such forward-looking statements. Such risks and uncertainties include,
but are not limited to, risks related to the closing of the rights
offering, the Company’s limited operating history; the Company’s ability
to execute its business plan; risks associated with investments in owned
and leased real estate generally; unanticipated difficulties which may
arise with respect to the Company and the other factors described from
time to time in the Company's reports filed with the Securities and
Exchange Commission. Any forward-looking statements are made pursuant to
the Private Securities Litigation Reform Act of 1995 and, as such, speak
only as of the date made. The Company disclaims any obligation to update
the forward-looking statements.
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