Summary
This 8-K filing from AMB Property Corporation (which later became Prologis, Inc.) on December 6, 2001, details the repurchase and redemption of all outstanding 8.75% Series C Cumulative Redeemable Preferred Limited Partnership Units by its subsidiary, AMB Property II, L.P. This action effectively removes these preferred units from the partnership's capital structure. In conjunction with the redemption, the partnership agreement was amended and restated, and Articles Supplementary were filed to reclassify the corresponding Series C Preferred Stock held by the parent company.
Key Highlights
- 1AMB Property II, L.P. repurchased and redeemed all outstanding 8.75% Series C Cumulative Redeemable Preferred Limited Partnership Units on December 5, 2001.
- 2The repurchase effectively eliminates the Series C Preferred Limited Partnership Units from AMB Property II, L.P.'s capital structure.
- 3The partnership agreement of AMB Property II, L.P. was amended and restated to reflect the removal of the Series C Preferred Units.
- 4AMB Property Corporation filed Articles Supplementary to reclassify its reserved shares of 8.75% Series C Cumulative Redeemable Preferred Stock.
- 5The reclassified preferred stock now has no specific designation, preferences, or special rights beyond those applicable to the parent company's general Preferred Stock.
- 6This filing indicates a significant restructuring or simplification of the subsidiary's preferred equity.