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Plymouth Industrial REIT (PLYM) investor relations material

Plymouth Industrial REIT Proxy Filing summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Proxy Filing summary18 Dec, 2025

Executive summary

  • A special meeting is scheduled for January 22, 2026, to vote on a proposed merger where shareholders will receive $22.00 per share in cash, representing a 50% premium to the unaffected stock price as of August 18, 2025.

  • The merger is the result of a competitive process involving multiple bidders, with the final agreement reached with affiliates of Makarora and Ares after a 30-day go-shop period yielded no superior proposals.

  • The board of directors unanimously recommends approval of the merger, citing certainty of value, premium pricing, and the outcome of a robust market check.

  • Both KeyBanc Capital Markets and J.P. Morgan Securities provided fairness opinions supporting the financial terms of the transaction.

Voting matters and shareholder proposals

  • Shareholders will vote on three proposals: approval of the merger, an advisory vote on executive compensation related to the merger, and approval of potential adjournments to solicit additional proxies.

  • Approval of the merger requires a majority of outstanding shares; the other proposals require a majority of votes cast.

  • No appraisal or dissenters' rights are available to shareholders under Maryland law.

Board of directors and corporate governance

  • The board conducted a thorough review of strategic alternatives, including outreach to multiple potential acquirers and a go-shop period.

  • The board considered risks, alternatives, and the likelihood of closing, and determined the merger was in the best interests of shareholders.

  • Directors and executive officers collectively own approximately 1.8% of outstanding shares and intend to vote in favor of the merger.

Financing certainty: JV debt & limited guaranty?
Executive pay: 280G mitigation actions impact?
Go-shop outcome: Why no superior bids emerged?
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Frequently asked questions

Plymouth Industrial REIT Inc is a real estate investment trust specializing in the acquisition, ownership, and management of industrial properties. The company's portfolio focuses on single- and multi-tenant distribution centers, warehouses, and light industrial buildings across secondary and primary markets in the United States. Plymouth Industrial REIT serves logistics, manufacturing, and distribution tenants. The company is headquartered in Boston, Massachusetts, and its shares are listed on the NYSE American.

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