Bay Apartment Communities files shelf registration statement.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--May 25, 1995--Bay Apartment Communities Inc. (NYSE NYSE See: New York Stock Exchange :BYA) today announced that it has filed with the Securities and Exchange Commission a shelf registration statement covering up to $200 million aggregate amount of its securities. The securities covered by the shelf registration statement include common stock and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . The company said proceeds from any sales of these securities would be used for general corporate purposes, which may include the acquisition of additional properties, repayment of outstanding debt or the improvement of certain properties already in the company's portfolio. Gilbert M. Meyer Mey·er , Annie Florance Nathan 1867-1951. American writer and a founder of Barnard College at Columbia University (1889). Her plays include The Dominant Sex (1911) and Black Souls (1932). , president of Bay Apartment Communities Inc., stated: "The registration of these securities will provide the company with flexibility in accessing the capital markets quickly in the future whenever the Board of Directors deems it appropriate." No assurance can be given as to when or if an offering under the shelf registration statement will commence or any securities will be issued. The shelf registration statement has been filed with the Securities and Exchange Commission, but has not yet become effective. The securities covered by the registration statement may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy the securities described above, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Bay Apartment Communities is a fully integrated multifamily Real Estate Investment Trust focused on the acquisition, development and management of high quality apartments in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern . The company owns and manages 23 apartment communities containing approximately 5,400 apartment homes in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and Northern California. CONTACT: Bay Apartment Communities Gilbert M. Meyer, 408/983-1500 |
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