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UMH Properties closes common stock offering

UMH Properties Inc. closed its offering of 1.4 million shares of common stock at $16.60 per share, for net proceeds of roughly $22.7 million.

The company aims to use the funds for general business purposes, including the purchase and expansion of manufactured homes for sale or lease, prospective purchases and potential repayment of outstanding debt on a short-term basis.

CSCA Capital Advisors LLC acted as placement agent for the transaction, while Weeden & Co. LLP served as settlement agent.