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EX-99.1 - PRESS RELEASE - Parking REIT, Inc.pressrelease.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): October 23, 2015

Company Logo
MVP REIT II, INC.
(Exact name of registrant as specified in its charter)

Maryland
333-205893
47-3945882
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

12730 HIGH BLUFF DRIVE, SUITE 110
SAN DIEGO, CA  92130
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code: (858) 369-7959

N/A
(Former name or former address, if changed since last report)

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 Instruction A.2. below):
 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

 
 

Item 7.01. Regulation FD Disclosure
 
On October 22, 2015, MVP REIT II, Inc. (the “Company”) issued a press release announcing that its registration statement on Form S-11 pertaining to an initial public offering of up to $550 million in common stock was declared effective by the United States Securities and Exchange Commission (the “SEC”) on October 22, 2015.

A copy of the press release is furnished as Exhibit 99.1 and is incorporated into this Item 7.01 disclosure by reference. Pursuant to the rules and regulations of the SEC, the exhibit and the information set forth therein are deemed to have been furnished and shall not be deemed to be “filed” under the Securities Exchange Act of 1934.
 
Item 8.01 Other Events

The Company today announced that its board of directors has approved a plan for payment of initial monthly cash distributions of $0.0625 per share and monthly stock dividends of $0.0625 per share, based on a purchase price of $25 per common share, commencing after the Company breaks escrow upon receiving subscriptions for the minimum offering amount of $2 million. The initial cash distributions are expected to be paid from offering proceeds rather than funds from operations and therefore may represent a return of capital.  There can be no assurance that distributions and dividends will continue to be paid at this rate. The Company’s board of directors may at any time change the distribution and dividend rate or suspend payment of distributions and dividends if it determines that such action is in the best interest of the Company and its stockholders. Approved monthly distributions and dividends are expected to be paid by the 10th day of each month to stockholders of record as of the 24th day of the preceding month.
 

 
 

 


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.
 

 
Dated: October 23, 2015
 

 

 
MVP REIT, INC.
 

 
By: __/s/ Tracee Gress_______________
 
       Tracee Gress
 
       Chief Financial Officer