Cedar Realty Trust announces planned tender offer

Cedar Realty Trust plans to commence on September 25, 2024 a “modified Dutch auction” tender offer to purchase up to an aggregate amount paid of $9 million of shares of its outstanding 6.50% Series C Cumulative Redeemable Preferred Stock at a price per Series C Share of not less than $13.25 and not greater than $15.50. The tender offer will commence upon the filing by the Company of a tender offer statement on Schedule TO, including an offer to purchase, letter of transmittal and related materials, with the United States Securities and Exchange Commission. The Offer is expected to commence on September 25, 2024, and is intended to expire at 5:00 p.m., New York City time, on Thursday, October 24, 2024, unless the offer is extended. Tenders of Series C Shares must be made prior to the expiration of the Offer and may be withdrawn at any time prior to the expiration time, in each case, in accordance with the procedures described in the tender offer materials. The Company intends to pay for the shares repurchased in the Offer with available cash. The closing price of the Series C Shares on the New York Stock Exchange on September 24, 2024, the last full trading day before the planned commencement of the tender offer, was $13.98 per Series C Share.