Urstadt Biddle Properties Inc. Announces Pricing of Class A Common Stock Offering

GREENWICH, Conn.--(BUSINESS WIRE)--

Urstadt Biddle Properties Inc. (the “Company”) UBA today announced the pricing of its underwritten offering of 2,500,000 shares of its Class A common stock at a price to the public of $21.30 per share. The Company has granted the underwriter an option for 30 days to purchase up to an additional 375,000 shares of its Class A common stock. The offering was made pursuant to the Company's shelf registration statement and settlement is expected to occur on or about November 3, 2014. Deutsche Bank Securities Inc. is acting as sole book-running manager for the offering.

The Company intends to use the net proceeds to fund a portion of the proposed acquisition of four retail shopping centers located in the Company's target market of the metropolitan New York tri-state area outside of the City of New York. Pending the use of the net proceeds as described above, the Company may use the net proceeds to make investments in short-term income-producing securities that are consistent with its qualification as a REIT.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or other 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 other jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement.

A final prospectus supplement and accompanying base prospectus related to the offering will be filed with the Securities and Exchange Commission. Copies of the final prospectus supplement and accompanying base prospectus, when available, may be obtained by contacting Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by calling 1-800-503-4611 or by emailing prospectus.cpdg@db.com.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust providing investors with a means of participating in ownership of income-producing properties with the liquidity of being listed on the New York Stock Exchange since 1970. Urstadt Biddle Properties Inc. owns or has equity interests in 69 properties containing approximately 4.9 million square feet of space and has paid 179 consecutive quarters of uninterrupted dividends to its shareholders since its inception.

This press release contains statements that constitute “forward-looking statements,” including with regard to the Company's securities offering and the anticipated use of the net proceeds. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. No assurance can be given that the securities offering discussed above will be completed on the terms described, or at all, that the acquisition will be completed, or that the net proceeds of the offering will be used as indicated. Completion of the securities offering on the terms described, and the application of net proceeds, are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in or incorporated by reference into the Risk Factors section of the Company's Registration Statement on Form S-3. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release.