SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 6, 2020
|(Exact name of registrant as specified in its charter)|
|(State or other jurisdiction of||(Commission File||(IRS Employer|
620 West Germantown Pike, Suite 175
Plymouth Meeting, PA
|(Address of principal executive offices)||(Zip Code)|
Registrant’s telephone number, including area code: (610) 487-0905
|(Former name or former address, if changed since last report)|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
|¨||Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|¨||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|¨||Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|¨||Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock $.10 par value||AXR||New York Stock Exchange|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
Refer to the current report on Form 8-K of AMREP Corporation (the “Company”), dated September 11, 2020, which was filed with the Securities and Exchange Commission on September 11, 2020, for detail regarding the Company’s share repurchase program.
On November 6, 2020, the Company acquired 143,482 shares of common stock of the Company, representing 1.9% of the Company’s then outstanding shares, at a price of $6.18 per share in a privately negotiated transaction. As of the date of the repurchase, the repurchased shares were retired and returned to the status of authorized but unissued shares of common stock. The share repurchase was not completed pursuant to the Company’s share repurchase program.
On November 6, 2020, the Company’s previously announced share repurchase program was terminated. In transactions pursuant and not pursuant to the Company’s share repurchase program, the Company repurchased a total of 830,945 shares from August 25, 2020 through November 6, 2020, representing 10.2% of the Company’s outstanding shares as of August 25, 2020, for an aggregate purchase price of $5,115,100. Immediately following the share repurchase on November 6, 2020, the Company had 7,323,370 shares of common stock outstanding.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: November 6, 2020||By:||
/s/ Christopher V. Vitale
|Name: Christopher V. Vitale|
|Title: President and Chief Executive Officer|