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Phillips Edison & Company Announces Conversion Date of Class B Common Stock into Nasdaq-Listed Common Stock
CINCINNATI, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and
About this update from Phillips Edison & Company, Inc.
[{"type":"text","content":"CINCINNATI, Dec. 09, 2021 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored omni-channel neighborhood shopping centers, announced today that all outstanding shares of its Class B Common Stock will automatically convert into Nasdaq-listed Common Stock on a one-for-one basis and begin trading on the Nasdaq on January 18, 2022. The conversion will have no effect on the economic rights of holders of shares of Class B Common Stock, and PECO does not expect it to have any material effect on its future operations. The conversion will occur automatically and without any action on the part of shareholders pursuant to PECO’s charter, as amended or supplemented. The Common Stock has the same preferences, rights, voting powers (one vote per share), restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption or otherwise, as the Class B Common Stock, and all provisions of the charter, as amended or supplemented, applicable to the shares of Common Stock shall apply to the shares of Class B Common Stock post-conversion. Immediately upon and concurrent with such conversion, no shares of Class B Common Stock will remain issued or outstanding. The CUSIP number of the Nasdaq-listed Common Stock is 71844V201. About Phillips Edison & CompanyPhillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Ahold Delhaize, and Albertsons. As of September 30, 2021, PECO manages 289 shopping centers, including 267 wholly-owned centers comprising 30.4 million square feet across 31 states, and 22 shopping centers owned in two institutional joint ventures. PECO is exclusively focused on creating great omni-channel grocery-anchored shopping experiences and improving communities, one shopping center at a time. PECO us...