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Stock impact report

GYRODYNE ANNOUNCES CLOSING OF SUCCESSFUL, OVERSUBSCRIBED RIGHTS OFFERING [Yahoo! Finance]

Gyrodyne , LLC (GYRO) 
US:NASDAQ Investor Relations: gyrodyne.com/investor.php
Company Research Source: Yahoo! Finance
portfolio of real estate properties, today announced the successful closing of its previously announced rights offering (the "Rights Offering") for shares of the Company's limited liability company interests ("Common Shares"). Pursuant to the terms of the Rights Offering, all 625,000 of the Common Shares offered in the Rights Offering were purchased at $8 per share, generating $5 million in gross proceeds to the Company (approximately $4.4 million net of costs). The subscription period for the Rights Offering expired at 5:00 p.m., New York City time, on March 7, 2024. The Company is issuing 625,000 shares, the maximum number of shares issuable in the Rights Offering, consisting of 353,164 shares pursuant to the exercise of basic subscription privileges and 271,836 shares pursuant to the exercise of over-subscription privileges. In total, Rights Offering participants subscribed for 1,031,640 shares, exceeding by approximately 65% the 625,000 maximum shares offered in the Rights Off Show less Read more
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