PORT WASHINGTON, N.Y., Aug. 16, 2017 /PRNewswire/ -- Cedar
Realty Trust, Inc. (NYSE: CDR) (the "Company") today announced that it has commenced an offering to sell shares of Series C
Cumulative Redeemable Preferred Stock in an underwritten public offering. The Company expects to grant the underwriters a
30-day option to purchase up to an additional 15% of the shares of Series C Cumulative Redeemable Preferred Stock initially sold
to the public.
The Company intends to use the net proceeds from the offering to partially redeem the Company's 7.25% Series B Cumulative
Redeemable Preferred Stock. Pending such use, the net proceeds will be used to temporarily repay amounts outstanding under
the Company's unsecured revolving credit facility.
Raymond James & Associates, Inc. and KeyBanc Capital Markets Inc. will act as joint
book-running managers for the offering. The Company intends to apply to list the Series C Preferred Shares on the New York
Stock Exchange under the symbol "CDR PrC".
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or
sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.
The offering will be made only by means of an effective registration statement, a prospectus and a related prospectus
supplement. When available, copies of the final prospectus supplement and the accompanying prospectus relating to these
securities may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway,
St. Petersburg, FL 33716, Attention: Equity Syndicate, by telephone by calling (800) 248-8863 or
e-mail request to prospectus@raymondjames.com or
KeyBanc Capital Markets Inc., 127 Public Square, Cleveland, OH 44114, Attention: Debt Capital
Markets, by telephone by calling (888) 539-1057.
About Cedar Realty Trust
Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust which focuses on the ownership, operation and
redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington,
D.C. to Boston. The Company's portfolio (excluding properties treated as "held for sale")
comprises 61 properties, with approximately 9.0 million square feet of gross leasable area.
Forward-Looking Statements
Statements made in this press release that are not strictly historical are "forward-looking" statements. Forward-looking
statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and
outcomes to differ materially from those expressed or implied in forward-looking statements. Please refer to the documents filed
by Cedar Realty Trust, Inc. with the SEC, specifically the Company's Annual Report on Form 10-K for the year ended December 31, 2016, as it may be updated or supplemented in the Company's Quarterly Reports on Form 10-Q and the
Company's other filings with the SEC, which identify important risk factors that could cause actual results to differ from those
contained in forward-looking statements.
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SOURCE Cedar Realty Trust, Inc.