Business Context and Reporting Period
Company: American Realty Capital New York City REIT, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 6, 2018
Event: Amendment to an existing tender offer to purchase common stock.
Key Financial Metrics
This filing does not contain standard financial statements (revenue, profit, cash flow, or margins). The only financial data provided relates to the tender offer:
- Offer Price: $17.03 per share.
- Original Aggregate Value: $27.2 million (for 1,600,000 shares).
- Amended Aggregate Value: Approximately $2.38 million (for 140,000 shares).
Material Changes
On March 6, 2018, the Company amended its tender offer with the following material changes:
- Reduction in Share Volume: The number of shares the Company is offering to purchase was decreased from 1,600,000 to 140,000.
- New Condition: An additional condition was added to the Offer (specifics not detailed in this summary).
- Expiration: Unless extended or withdrawn, the Offer will expire on March 20, 2018.
Outlook, Risks, and Management Commentary
Management Action: The Company began mailing a letter to stockholders on or about March 6, 2018, explaining the amendment and other recent events. This letter is attached as Exhibit 99.1.
Reference: For full details on the Offer, investors are directed to the Company's Schedule TO filed with the SEC and available on the Company's website.
Risks/Contingencies: The filing notes the Offer is subject to the new condition and the expiration date of March 20, 2018.
Investor Verification Checklist
- Verify the specific "additional condition" added to the tender offer by reviewing the attached Stockholder Letter (Exhibit 99.1) or the Schedule TO.
- Confirm the final number of shares tendered by stockholders prior to the March 20, 2018 expiration.
- Review the Schedule TO for the full legal terms and conditions of the amended offer.