REGENCY AFFILIATES ANNOUNCES REPURCHASE OF 331,500 SHARES

Rhea-AI Summary

Regency Affiliates, Inc. (OTC Pink: RAFI) has announced a significant stock repurchase. On October 17, 2024, the company acquired 331,500 shares of its outstanding common stock in a privately negotiated transaction with an unaffiliated shareholder. The total purchase price was $1,740,375, equating to $5.25 per share.

Regency intends to retire the repurchased shares in the near future. CEO Laurence Levy expressed satisfaction with the stock repurchase, stating that the company believes it will be accretive to the remaining shareholders. This move demonstrates Regency's commitment to enhancing shareholder value through strategic financial management.

Positive

• Repurchase of 331,500 shares at $5.25 per share, potentially increasing value for remaining shareholders
• Total investment of $1,740,375 in share buyback, showing confidence in company's financial position
• Intention to retire repurchased shares, which could lead to increased earnings per share

Negative

• Significant cash outlay of $1,740,375 for share repurchase, potentially impacting available funds for other investments or operations

LARCHMONT, N.Y., Oct. 17, 2024 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) today announced that on October 17, 2024, it acquired in a privately negotiated transaction with an unaffiliated shareholder 331,500 shares of Regency's outstanding common stock for a total purchase price of $1,740,375, or $5.25 per share. Regency intends to retire the repurchased shares in the near term.

Laurence Levy, CEO of Regency commented "We are happy to announce the stock repurchase and believe it is accretive to the Company's remaining shareholders."

About Regency Affiliates

Regency Affiliates, Inc. invests in businesses that generate attractive, predictable and sustainable returns on capital. We are currently invested in two assets:

1. A portfolio of five stand-alone self-storage facilities in the Harrisburg, Pennsylvania vicinity comprising approximately 337,000 square feet of net rentable space in excess of 2,500 climate and non-climate-controlled storage units; and 
   
   
2. A 50% limited partnership interest in the Security West Complex located on 34.3 acres in Woodlawn, Maryland. The facility was occupied under a lease with the United States General Services Administration until November 1, 2023, since which the facility has been vacant.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements are statements that are predictive in nature or depend on or refer to future events and can be identified by the words "may," "might," "will," "should," "anticipate," "believe," "expect," "intend," "estimate," "hope," or similar expressions. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.  Future events and actual results affecting our strategic plan as well as our financial position, results of operations and cash flows, could differ materially from those described in or contemplated by the forward-looking statements.  Important factors that contribute to such risks include, but are not limited to, a default or catastrophe involving the properties in which we invest, the extent to which we are able to raise additional capital, and competition for additional investment opportunities. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.  For a more detailed description of these uncertainties and other factors, please see our website at www.regencyaffiliates.com.

View original content:https://www.prnewswire.com/news-releases/regency-affiliates-announces-repurchase-of-331-500-shares-302279560.html

SOURCE Regency Affiliates, Inc.

FAQ

How many shares did Regency Affiliates (RAFI) repurchase on October 17, 2024?

Regency Affiliates (RAFI) repurchased 331,500 shares of its outstanding common stock on October 17, 2024.

What was the price per share for RAFI's stock repurchase in October 2024?

The price per share for RAFI's stock repurchase was $5.25.

What is the total value of Regency Affiliates' (RAFI) stock repurchase announced in October 2024?

The total value of Regency Affiliates' (RAFI) stock repurchase was $1,740,375.

What does Regency Affiliates (RAFI) plan to do with the repurchased shares?

Regency Affiliates (RAFI) intends to retire the repurchased shares in the near term.