Preferred Apartment Communities, Inc. Announces Adjournment of Special Meeting of Stockholders Until June 17, 2022
07 Juin 2022 - 4:17PM
Business Wire
Preferred Apartment Communities, Inc. (NYSE: APTS) (“PAC” or the
“Company”) announced that it adjourned today's Special Meeting of
Stockholders (the “Special Meeting”) until June 17, 2022.
The Company today convened and then adjourned the Special
Meeting to consider and vote on, among other things, a proposal to
approve the all-cash acquisition of the Company by Blackstone Real
Estate Income Trust, Inc. (the “Merger Proposal”) pursuant to the
terms of the Agreement and Plan of Merger, dated as of February 16,
2022.
The Special Meeting is being adjourned to provide stockholders
with additional time to vote on the Merger Proposal.
The required vote to approve the Merger Proposal is two-thirds
(66 2/3%) of all of the votes entitled to be cast on the matter. As
of June 7, 2022, approximately 63.9% of the votes entitled to be
cast on the Merger Proposal had been voted, and, of these votes,
approximately 99.0% had been voted in favor of the Merger Proposal.
Independent leading proxy advisory firms Institutional Shareholder
Services Inc. and Glass Lewis & Co. have recommended a FOR vote
on the Merger Proposal.
Only stockholders of record on April 11, 2022, are entitled to
and are being requested to vote. Stockholders who have already
voted do not need to recast their votes unless they wish to change
their votes. Stockholders who have not already voted or wish to
change their vote are encouraged to do so promptly by executing a
new proxy, revoking a previously given proxy or attending and
voting at the meeting, as set forth in the definitive proxy
statement the Company filed with the Securities and Exchange
Commission (the “SEC”) on April 14, 2022 (the “Proxy
Statement”).
The Special Meeting was adjourned to 11:00 a.m., Eastern Time,
on June 17, 2022, via a live webcast. Stockholders may attend the
Special Meeting at the website address
https://www.virtualshareholdermeeting.com/APTS2022SM and by
entering the control number included on the proxy card received or
in the instructions that accompanied the proxy materials.
If you have any questions about the Special Meeting or need
assistance voting your shares, please contact PAC’s proxy
solicitor, MacKenzie Partners, Inc., by email at
proxy@mackenziepartners.com or by phone at (800) 322-2885.
About Preferred Apartment Communities, Inc.
Preferred Apartment Communities, Inc. (NYSE: APTS) is a real
estate investment trust engaged primarily in the ownership and
operation of Class A multifamily properties, with select
investments in grocery anchored shopping centers. Preferred
Apartment Communities’ investment objective is to generate
attractive, stable returns for stockholders by investing in
income-producing properties and acquiring or originating real
estate loans. As of March 31, 2022, the Company owned or was
invested in 113 properties in 13 states, predominantly in the
Southeast region of the United States. Learn more at
www.pacapts.com.
Additional Information and Where to Find It
In connection with the proposed merger, the Company has filed
relevant materials with the SEC, including the Proxy Statement.
This communication is not a substitute for the Proxy Statement or
for any other document that the Company may file with the SEC and
send to the Company’s stockholders in connection with the proposed
transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE
URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH
THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and
security holders may obtain a free copy of the Proxy Statement and
other documents filed by the Company at its website,
www.pacapts.com, or at the SEC’s website, www.sec.gov. The Proxy
Statement and other relevant documents may also be obtained for
free from the Company by directing such request to Preferred
Apartment Communities, Inc., to the attention of the Corporate
Secretary, 3284 Northside Parkway NW, Suite 150, Atlanta, GA
30327.
Cautionary Statement Regarding Forward Looking
Statements
This communication includes “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact,
are forward-looking statements that contain our current
expectations about future results. These forward-looking statements
are based on certain assumptions and expectations made by the
Company, which reflect our management’s experience, estimates and
perception of historical trends, current conditions and anticipated
future developments. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company, which may cause actual results to differ
materially from those implied or anticipated in the forward-looking
statements. When considering these forward-looking statements, you
should also keep in mind the risk factors and other cautionary
statements found in the Company’s respective filings with the SEC,
including its Annual Report on Form 10-K for the year ended
December 31, 2021, as amended, and subsequently filed Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. All
forward-looking statements, expressed or implied, included in this
communication are expressly qualified in their entirety by this
cautionary statement. This cautionary statement should also be
considered in connection with any subsequent written or oral
forward-looking statements that we or persons acting on our behalf
may issue. Except as otherwise required by applicable law, the
Company disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
of this release. The Company claims the safe harbor protection for
forward looking statements contained in the Private Securities
Litigation Reform Act of 1995.
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version on businesswire.com: https://www.businesswire.com/news/home/20220607005939/en/
Preferred Apartment Communities, Inc. John A. Isakson
770-818-4109 Chief Financial Officer Email:
jisakson@pacapts.com
Preferred Apartment Communities, Inc. Paul Cullen 770-818-4144
Executive Vice President-Investor Relations Email:
Investorrelations@pacapts.com
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