FREEHOLD, N.J., June 1, 2017 /PRNewswire/ -- UMH
Properties, Inc. (NYSE: UMH) (the "Company") announced the pricing of a registered direct placement of 1,400,000 shares of its
common stock at an offering price of $16.60 per share. The Company's common stock is listed
on The New York Stock Exchange under the symbol "UMH."
The Company expects to receive net proceeds from the offering before expenses of approximately $22.7
million and expects to close the transaction on or about June 5, 2017. The Company
intends to use the proceeds from the offering for general corporate purposes, which may include purchase of manufactured homes
for sale or lease to customers, expansion of its existing communities, potential acquisitions of additional properties, and
possible repayment of indebtedness on a short-term basis.
CSCA Capital Advisors LLC acted as placement agent for the transaction. Weeden & Co. LLP will act as settlement
agent for the transaction.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 107 manufactured home
communities with approximately 19,400 developed homesites. These communities are located in New
Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana,
Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.
The common stock is being issued pursuant to a prospectus supplement and accompanying prospectus under an effective shelf
registration statement filed with the Securities and Exchange Commission. This communication shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any sale or offer to buy these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction. Any offer of the securities will be made only by means of a prospectus,
forming part of the effective registration statement, the applicable preliminary prospectus supplement and other related
documents. Copies of the prospectus supplement and accompanying prospectus can be obtained by contacting: CSCA Capital
Advisors LLC, 800 Third Avenue, New York, New York 10022, by phone at 212-446-9177, or by fax at
212-446-9181. You may also obtain a copy of the prospectus and the prospectus supplement and other documents the Company
has filed with the Securities and Exchange Commission for free by visiting the Commission's web site at http://www.sec.gov.
Certain statements included in this press release which are not historical facts may be deemed forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be
materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions,
the Company can provide no assurance those expectations will be achieved. These risks include, among others, changes in the
general economic climate, increased competition in the geographic areas in which the Company operates, changes in government laws
and regulations and the ability of the Company to continue to identify, negotiate and acquire properties on terms favorable to
the Company. Additional information concerning these and other factors that could cause actual results to differ materially
from those forward-looking statements is contained from time to time in the Company's SEC filings, including, but not limited to,
Item 1A. Risk Factors of the Company's Annual Report on Form 10-K for the year ended December 31,
2016. Copies of each filing may be obtained from the Company or the SEC. Consequently, such forward-looking
statements should be regarded solely as reflections of the Company's current operating plans and estimates. Actual
operating results may differ materially from what is expressed or forecast in this press release. Except as otherwise required by
applicable securities law, the Company undertakes no obligation to publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
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SOURCE UMH Properties, Inc.