Independence Realty Trust, Centerspace shareholders approve merger
IRT•Shareholders approved the merger, with 88.1% of Independence Realty Trust votes cast and 99.6% of Centerspace votes cast in favor. Centerspace shareholders are to receive 3.8 IRT shares per share, subject to closing conditions.
1. Merger approved
Independence Realty Trust stockholders and Centerspace shareholders approved the merger, with support from 88.1% and 99.6% of votes cast, respectively. Centerspace shareholders will receive 3.8 IRT common shares for each common share, with cash paid instead of fractional shares.
2. Closing conditions remain
Centerspace operating partnership common unitholders will receive 3.8 IRT operating partnership common units per unit, subject to adjustments. Completion remains subject to closing conditions, and IRT can defer closing while it seeks required mortgage lender consents. Any deferral ends at the earlier of 10 business days after those consents or 10 business days before June 30, 2027.
