clpr20201125_8k.htm
false
0001649096
0001649096
2020-11-24
2020-11-24
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
November 24, 2020
CLIPPER REALTY INC.
(Exact Name of Registrant as Specified in Charter)
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Maryland
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001-38010
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47-4579660
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(State or Other
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(Commission
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(IRS Employer
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Jurisdiction of
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File Number)
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Identification No.)
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Incorporation)
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4611 12th Avenue, Suite 1L
Brooklyn, New York
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11219
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(Address of Principal Executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (718) 438-2804
Former name or former address, if changed since last report: N/A
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 Instructions A.2.):
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol
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Name of each exchange on which registered
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Common Stock, par value $0.01 per share
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CLPR
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New York Stock Exchange
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Item 8.01. Other Events
Clipper Realty Inc. (the “Company”) announced that it has completed its $10 million stock repurchase program announced in August 2020. The Company repurchased approximately 1.75 million shares of common stock during the third and fourth quarters of 2020 at an average price of $5.71 per share, including approximately 1.67 million shares from Indaba Capital Management, L.P. The number of shares of common stock outstanding after completion of the repurchase program is approximately 16.06 million. The repurchase program was completed pursuant to open market purchases under Rule 10b-18 and privately negotiated transactions.
SIGNATURE
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.
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Clipper Realty Inc.
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(Registrant)
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By:
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/s/ David Bistricer
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Name:
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David Bistricer
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Title:
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Co-Chairman and Chief Executive Officer
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Date: November 25, 2020