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POWER REIT

(PW)
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POWER REIT : Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

05/25/2021 | 02:36pm EDT

Item 1.01. Entry into a Material Definitive Agreement.

On May 25, 2021, Power REIT ("Power REIT" or the "Trust"), in connection with the potential acquisition of an approximately 66 acre parcel with approximately 522,530 square feet of greenhouse and processing space located in Marengo Township, Michigan (the "Property"), received court approval for a Purchase Agreement (the "Purchase Agreement") with the Receiver for the Property. The Purchase Agreement provides the Trust with a 75-day due diligence period followed by a 30-day closing period which can be extended by up to 30 days. The purchase price for the Property is $18.5 million. There can be no assurance as to when or if the acquisition of the Property will occur.

Item 7.01 Regulation FD Disclosure.

On May 25, 2021, the Trust issued a press release regarding entering into an agreement for an acquisition of a property. A copy of the press release is attached hereto as Exhibit 99.1. The information contained in Item 7.01 of this report, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Trust, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.



Exhibit   Description of Exhibit

99.1        Power REIT Press Release issued on May 25, 2021




Forward-Looking Statements



Some of the information in this press release contains forward-looking statements and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," "target," or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption "Risk Factors" included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2019, which was filed with the U.S. Securities and Exchange Commission ("SEC"), as well as in other reports that we file with the SEC.

Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 9,71 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 3,75%
Capitalization 172 M 172 M -
Capi. / Sales 2021 17,7x
Capi. / Sales 2022 11,7x
Nbr of Employees 3
Free-Float 68,3%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 51,69 $
Average target price 63,00 $
Spread / Average Target 21,9%
Managers and Directors
David H. Lesser Chairman-Trustees Board, CEO, CFO & Secretary
Virgil E. Wenger Independent Trustee
Patrick R. Haynes Independent Trustee
William S. Susman Independent Trustee
Paula Jean Poskon Independent Trustee
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