Item
8.01. Other Events.
Extension
of Exchange Offer and Consent Solicitation
On
December 23, 2022, the Company announced that it is extending the expiration date for the Exchange Offer and Consent Solicitation from
11:59 p.m., New York City time, on December 22, 2022 to 11:59 p.m., New York City time, on January 6, 2023, to allow additional
time for the holders of Series D Preferred Stock to tender their shares of Series D Preferred Stock in the Exchange Offer.
The Company has been informed
by the Exchange Agent, Computershare Inc., that as of 11:59 p.m., New York City time, on December 22, 2022, 713,863 shares of Series
D Preferred Stock (representing 22.14% of the total outstanding Series D Preferred Stock) had been validly tendered (and not validly
withdrawn) in the Exchange Offer.
No
Offer or Solicitation
This
Current Report on Form 8-K is not intended and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or
sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction or where
such sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of
securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Important
Cautions Regarding Forward-Looking Statements
This
Current Report on Form 8-K includes forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E
of the Exchange Act. Forward-looking statements are typically identified by the use of terms such as “may,” “will,”
“should,” “potential,” “predicts,” “anticipates,” “expects,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” or the negative of such terms and variations
of these words and similar expressions. Statements in this Current Report on Form 8-K regarding the terms and timing of the Exchange
Offer and Consent Solicitation are forward-looking statements. Forward-looking statements, by their nature, involve estimates, projections,
goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from
those projected or contemplated by our forward-looking statements due to various factors, including, among others: the ongoing adverse
effect and the ultimate duration of the COVID-19 pandemic, and federal, state, and/or local regulatory guidelines and private business
actions to control it, on the Company’s financial condition, operating results and cash flows, the Company’s tenants and
their customers, the use of and demand for retail space, the real estate market in which the Company operates, the U.S. economy, the
global economy and the financial markets; the level of rental revenue we achieve from our assets and our ability to collect rents; the
state of the U.S. economy generally, or specifically in the Southeast, Mid-Atlantic and Northeast where our properties are geographically
concentrated; consumer spending and confidence trends; tenant bankruptcies; availability, terms and deployment of capital; general volatility
of the capital markets and the market price of our common and preferred stock; the degree and nature of our competition; changes in governmental
regulations, accounting rules, tax rates and similar matters; litigation risks; lease-up risks; increases in the Company’s financing
and other costs as a result of changes in interest rates and other factors, including the discontinuation of the London Interbank Offered
Rate; inability to successfully integrate the acquisition of Cedar Realty Trust, Inc.; inability to complete the Exchange Offer and Consent
Solicitation; changes in our ability to obtain and maintain financing; damage to the Company’s properties from catastrophic weather
and other natural events, and the physical effects of climate change; information technology security breaches; the Company’s ability
and willingness to maintain its qualification as a real estate investment trust in light of economic, market, legal, tax and other considerations;
the impact of e-commerce on our tenants’ business; and inability to generate sufficient cash flows due to market conditions, competition,
uninsured losses, changes in tax or other applicable law; and other factors discussed from time to time in our news releases, public
statements and documents filed by us with the SEC from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K. These forward-looking statements and such risks, uncertainties and other factors speak only as
of the date of this Current Report on Form 8-K, and we expressly disclaim any obligation or undertaking to update or revise any forward-looking
statement contained herein, to reflect any change in our expectations with regard thereto or any other change in events, conditions or
circumstances on which any such statement is based, except to the extent otherwise required by applicable law.
Additional
Information about the Exchange Offer and Consent Solicitation and Where to Find it
In
connection with the Exchange Offer and Consent Solicitation, the Company filed with the SEC a Registration Statement on Form S-4 on November
1, 2022 (as amended on November 18, 2022) (the “Registration Statement”). The Registration Statement was
declared effective by the SEC on November 21, 2022. On November 22, 2022, the Company filed with the SEC the Prospectus/Consent Solicitation
(as supplemented or amended, the “Prospectus/Consent Solicitation”). The Company also filed with the SEC a joint statement
on Schedule TO/13E-3 (as supplemented or amended, the “Schedule TO/13E-3”) for the Exchange Offer and Consent Solicitation.
The Company commenced mailing the Prospectus/Consent Solicitation to holders of the Series D Preferred Stock on or about November 22,
2022. The Company intends to file other relevant documents with the SEC regarding the Exchange Offer and Consent Solicitation. This Form
8-K is not a substitute for the Prospectus/Consent Solicitation, Registration Statement, Schedule TO/13E-3 or any other document that
the Company may file with the SEC. INVESTORS AND STOCKHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE SCHEDULE TO/13E-3, THE
PROSPECTUS/CONSENT SOLICITATION, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS
TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND
THE EXCHANGE OFFER AND CONSENT SOLICITATION. Investors and stockholders are able to obtain free copies of the Registration Statement,
the Schedule TO/13E-3, the Prospectus/Consent Solicitation, and all other documents containing important information about the Company
and the Exchange Offer and Consent Solicitation, once such documents are filed with the SEC through the website maintained by the SEC
at www.sec.gov. The Prospectus/Consent Solicitation included in the Registration Statement and additional copies of the Prospectus/Consent
Solicitation will be available for free from the Company.
