Urstadt Biddle to redeem preferred stock via series F sale proceeds

By Ashley Montgomery

Kansas City, Kan., Oct. 16 - Urstadt Biddle Properties, Inc. plans to use the proceeds from its offering of series F cumulative redeemable preferred stock to redeem other stock issues, according to a filing with the Securities and Exchange Commission.

The company said proceeds could be used to redeem or repurchase series C, D, or E preferred stock.

Proceeds could also be used to repay the company's credit facility, to fund capital improvements at the company's properties or to finance the acquisition of additional properties.

Urstadt is a real estate investment trust based in Greenwich, Conn.

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