Trinity Place Holdings Inc (TPHS) has released an update to notify the public and investors about the submission of matters to a vote of security holders.
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Trinity Place Holdings Inc. has successfully secured the necessary stockholder consent to advance a significant Stock Purchase Agreement with TPHS Lender LLC and an affiliate, following a consent solicitation process outlined in filings with the SEC. Despite achieving the required majority support from stockholders by February 7, 2024, the company will continue to collect and count consents until the February 16 deadline or until the deal closes. The completion of the transaction, which involves the issuance of over 25 million shares of common stock, is pending the satisfaction of other closing conditions as per the agreement.
For further insights into TPHS corporate activity, check out TipRanks’ Insiders Trading Activity page.
For a comprehensive understanding of the announcement, you can read the full document here.