PINEVILLE, NC / ACCESSWIRE / March 22, 2018 / Manufactured Housing Properties Inc. (OTC PINK: MHPC) today announced a 1-for-6 reverse split of its outstanding shares of common stock. The Company's common stock will begin trading on a post-split basis on Friday, March 23, 2018. As a result of the reverse stock split, the Company's issued and outstanding shares of common stock will decrease from approximately 60 million pre-split shares to approximately 10 million post-split shares.
American Stock Transfer and Trust Company, LLC ("AST"), is acting as exchange agent for the reverse stock split, and in such capacity will manage the exchange of pre-split shares for post-split shares. Stockholders of record will receive a letter of transmittal providing instructions for the exchange of their shares. Stockholders who hold their shares in street name will be contacted by their banks or brokers with any instructions. For further information, stockholders and securities brokers should contact AST at (602) 759-5510.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Manufactured Housing Properties Inc. and its affiliates ("Company"), acquire, own, and operate manufactured housing communities. The Company earns income from leasing manufactured home sites to tenants who own their manufactured home and the rental of Company-owned manufactured homes to tenants.
Contact: Michael Z. Anise - Chief Financial Officer - (704) 869-2500 ext. 244
SOURCE: Manufactured Housing Properties Inc.