City Office REIT Completes Acquisition by MCME Carell, Goes Private at $7.00 Per Share

summarizeSummary

City Office REIT, Inc. has completed its previously announced merger with MCME Carell, resulting in the company going private and its common stock being delisted from the NYSE.

check_boxKey Events

• Merger Completed

  City Office REIT merged with MCME Carell Merger Sub, becoming a wholly owned subsidiary of MCME Carell Holdings, LP.

• Cash Payout to Shareholders

  Common stockholders will receive $7.00 per share in cash, and Series A Preferred stockholders will receive $25.00 per share plus accrued distributions.

• Delisting and Deregistration

  The company's common and preferred stock will be delisted from the NYSE, and its reporting obligations under the Exchange Act will be terminated.

• Board and Management Changes

  All members of the board of directors resigned, and new officers from the acquiring entity were appointed.

auto_awesomeAnalysis

City Office REIT has finalized its merger with MCME Carell, marking a fundamental change for the company and its shareholders. Common stockholders will receive $7.00 per share in cash, while preferred stockholders will receive $25.00 per share plus accrued distributions. This transaction results in the company's delisting from the NYSE and the termination of its public reporting obligations, effectively taking it private. All directors have resigned, and new management from the acquiring entity has been appointed. The company's existing Credit Agreement has also been paid off and terminated. This event concludes the investment thesis for public shareholders, providing a definitive cash exit.