PW - Power REIT to raise capital via rights offering to existing shareholders

Power REIT (PW) plans to conduct a rights offering to offer existing holders of its common shares the ability to participate in providing capital to the Power REIT on a non-dilutive basis.Proceeds to be used for financing acquisitions of real property assets, in particular real estate within the Controlled Environment Agriculture sector, and to fund the company's subsidiaries.Also, proceeds may be used to retire all or a portion of any debt, to redeem any outstanding preferred stock, or for working capital purposes.Record date for the rights offering is Dec.28, 2020.On planned rights commencement, trust will distribute non-transferable rights to to existing Power REIT common stockholders and holders of outstanding Power REIT options for purchasing additional shares of Power REIT's.

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Power REIT to raise capital via rights offering to existing shareholders