UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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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:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On September 18, 2024, Inland Real Estate Income Trust, Inc. (the “Company”) issued a press release announcing that its board of directors has initiated a process to review strategic alternatives including the sale of the Company. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. As previously disclosed, the Company has been focused on a strategic plan that has centered around owning a portfolio of grocery-anchored properties with lower exposure to big box retailers and the listing, among other things, of the Company’s common stock on a national securities exchange. The Company intends to engage a financial advisor to assist in the strategic review. There can be no assurance that the strategic review will result in a transaction. The Company does not intend to discuss or disclose developments with respect to the process unless and until otherwise determined that further disclosure is appropriate or required by regulation or law. No formalized timetable has been established for completing the strategic review.
In connection with the strategic review, on September 18, 2024, the Company sent a letter to its stockholders announcing that the Company has suspended its distribution reinvestment plan and share repurchase program. A copy of the letter to stockholders is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits |
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99.1 |
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99.2 |
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SIGNATURES
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.
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INLAND REAL ESTATE INCOME TRUST, INC. |
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Date: |
September 18, 2024 |
By: |
/s/ Catherine L. Lynch |
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Catherine L. Lynch, Chief Financial Officer |