PW - Power REIT prices and sets terms for rights offering

For its earlier announced rights offering, Power REIT (PW) established a subscription price of $26.50/share for each right and Dec.28 as the record date.The price was set at a discount to the recent trading of its common shares.On offer commencement, the Trust plans to distribute one right for each common share held as of the record date; each right will enable the holder to purchase one additional share of Power REIT's common stock.Proceeds are expected to be used to finance acquisitions of real property assets, mainly real estate within the Controlled Environment Agriculture sector, and to fund the Trust's subsidiaries.Also Read: Power REIT mention in SA Contributor Hoya Capital Real Estate's recent article, Cannabis REITs: High On Growth

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Power REIT prices and sets terms for rights offering