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UMH Properties prices offering of 1.4 million common shares

UMH Properties Inc. priced its offering of 1.4 million shares of common stock at an offering price of $16.60 per share.

Net proceeds are expected to reach approximately $22.7 million, which the company intends to use for general corporate purposes, including the purchase and expansion of manufactured homes for sale or lease, potential acquisitions, and possible repayment of debt on a short-term basis.

The transaction is expected to close on or about June 5.

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