KBS REIT II Shareholders Approve Plan of Liquidation and Dissolution
March 10, 2020
On March 5, 2020, shareholders of KBS Real Estate Investment Trust II, Inc. (the “Company”) approved a plan of complete liquidation and dissolution of the Company. The plan will provide liquidity to the Company’s shareholders by selling the Company’s assets, paying its debts and distributing the net proceeds from liquidation to the Company’s stockholders.
The Company estimated that, if the Company is able to successfully implement the Plan of Liquidation, the amount of cash that its stockholders would receive for each share of the Company’s common stock that they then hold could range between approximately $3.40 and $3.83 per share. Pursuant to the Plan of Liquidation, on March 5, 2020, the Company’s board of directors authorized an initial liquidating distribution in the amount of $0.75 per share of common stock to the Company’s stockholders of record as of the close of business on March 5, 2020. In connection with the authorization of the Initial Liquidating Distribution, on March 5, 2020, the Company’s board of directors approved an updated estimated value per share of the Company’s common stock of $2.87, effective March 5, 2020.
Source: SECGo Back
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