8-K/AExhibits & Filings

Extra Space Storage Inc. 8-K/A Report, Exhibit Filing (Dec 17, 2015)

Filed December 17, 2015For Securities:EXR

Summary

This Form 8-K/A filing from Extra Space Storage Inc. (EXR) serves as an amendment to a previous report, primarily to provide the necessary financial statements and pro forma information related to the acquisition of SmartStop Self Storage, Inc. and its operating partnership. This amendment is crucial for investors to understand the full financial impact of this significant business combination, which was originally reported on October 1, 2015. The inclusion of audited financial statements for SmartStop for the year ended December 31, 2014, unaudited statements for the nine months ended September 30, 2015, and pro forma financial information provides a comprehensive view of the combined entity's financial position and performance post-acquisition. Investors should pay close attention to the pro forma financial statements (Exhibit 99.1) as they illustrate the expected financial results of the combined company, giving effect to the SmartStop acquisition. These statements are key to assessing the potential accretion or dilution to earnings and the overall financial health of Extra Space Storage Inc. going forward. The filing also includes the consent of SmartStop's independent auditors, ensuring the integrity of the provided financial data.

Key Highlights

  • 1Amendment filed to provide previously omitted financial statements and pro forma information for the acquisition of SmartStop Self Storage, Inc.
  • 2Includes audited consolidated financial statements of SmartStop for the year ended December 31, 2014 (incorporated by reference).
  • 3Includes unaudited consolidated financial statements of SmartStop for the nine months ended September 30, 2015 (Exhibit 99.2).
  • 4Presents unaudited pro forma condensed financial statements for the nine months ended September 30, 2015, and the year ended December 31, 2014, reflecting the SmartStop acquisition (Exhibit 99.1).
  • 5The filing ensures compliance with SEC requirements for reporting significant business acquisitions.
  • 6Provides consent from SmartStop's independent registered public accounting firm (CohnReznick LLP).

Frequently Asked Questions

The primary purpose of this Amendment No. 1 to the Form 8-K is to provide the financial statements and pro forma information that were required but omitted from the original Form 8-K filed on October 1, 2015. This information is related to Extra Space Storage's acquisition of SmartStop Self Storage, Inc.

This amendment includes the audited consolidated financial statements of SmartStop for the year ended December 31, 2014 (incorporated by reference), the unaudited consolidated financial statements of SmartStop for the nine months ended September 30, 2015 (Exhibit 99.2), and unaudited pro forma condensed financial statements showing the impact of the SmartStop acquisition as of and for the nine months ended September 30, 2015, and the year ended December 31, 2014 (Exhibit 99.1).

Pro forma financial statements are important because they provide a hypothetical view of the company's financial performance and position as if the acquisition of SmartStop had occurred at an earlier point in time. This allows investors to better understand the potential financial impact, synergies, and combined operational results of Extra Space Storage Inc. following the merger.

The original report concerning the acquisition of SmartStop Self Storage, Inc. was filed on Form 8-K on October 1, 2015. This filing is an amendment to that original report.