SAN DIEGO, Oct. 24, 2014 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (Nasdaq:ROIC) announced today the company's remaining outstanding warrants expired by their terms on October 23, 2014. The warrants were initially issued in 2007 by the company's predecessor entity. Of the 49.4 million warrants originally issued, 24.8 million warrants were exercised in total, providing ROIC with approximately $297.1 million of proceeds. Additionally, 16.6 million warrants were repurchased by ROIC, for an aggregate purchase price of approximately $32.8 million, all 8.0 million founders' warrants were exercised on a cashless basis and 64,452 warrants expired unexercised.
Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, "With the warrants now fully retired, our capital structure has been simplified. Over the past 18 months as warrants were exercised, we prudently and efficiently invested the proceeds in our ongoing acquisition program, broadening our portfolio and presence on the West Coast, while maintaining our strong balance sheet."
ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.
Retail Opportunity Investments Corp. (Nasdaq:ROIC), a member of the S&P SmallCap 600 Index, is a fully integrated, self-managed real estate investment trust. ROIC specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. As of June 30, 2014, ROIC owned 59 shopping centers encompassing approximately 6.9 million square feet. Additional information is available at: www.roireit.net.
When used herein, the words "believes," "anticipates," "projects," "should," "estimates," "expects," "guidance" and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements. Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net.
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Source:Retail Opportunity Investments Corp.