Cali Realty Corporation Files Shelf Registration Statement
09/05/1995 Category: Financial
CRANFORD, NJ--September 5, 1995--Cali Realty Corporation (NYSE:CLI) announced today that on September 1, 1995 it filed a shelf registration with the Securities and Exchange Commission (SEC) covering up to an aggregate of $250 million of its securities, including common stock, preferred stock and warrants.
Thomas A. Rizk, President and Chief Financial Officer stated, "The filing of this shelf registration will allow the Company to access capital markets quickly if and when it deems appropriate."
Pursuant to agreements it had with the holders of partnership units in Cali Realty, L.P., (the "UPREIT"), the Company also filed a shelf registration statement with the SEC for 2,801,883 shares of common stock of the Company. The partnership units in the UPREIT are convertible to shares on a one-for-one basis. Although the Company has filed the registration statement, it is unaware of any contemplated material conversion of partnership units.
Cali Realty Corporation is a self-administered, self-managed real estate investment trust (REIT) with corporate offices in Cranford, New Jersey. The Company is a leading property owner specializing in leasing, management, acquisition, construction and development of office buildings in Northern and Central New Jersey and Southern New York State. The Cali portfolio currently consists of 16 Class A office buildings totaling approximately 2.73 million square feet and one residential property consisting of 327 units located in Burlington County, New Jersey.
By filing a shelf registration statement with the SEC, Cali does not give an assurance that an offering under the statement will commence or that any securities will be issued. The securities covered by the registration statement may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. The announcement of the shelf registration filing shall not constitute an offer to sell or the solicitation of an offer to buy the securities described, 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 law of any such state.