What changed
The board approved Class II and Class SII common stock, each with 100,000,000 authorized shares at $0.01 par value, for a private offering. The company filed Articles of Amendment to raise total authorized capital stock to 2,600,000,000 shares and common stock to 2,500,000,000 shares. The new classes carry rights substantially similar to existing common stock, including proportional rights to company assets. The company also entered amended advisory and operating partnership agreements to reflect the new share classes.
Why it matters
The board approved Class II and Class SII common stock, each with 100,000,000 authorized shares at $0.01 par value, for a private offering. The company filed Articles of Amendment to raise total autho