1 unchanged sentence
Our share redemption program permits our stockholders to sell their shares of common stock back to us, subject to certain conditions and limitations.
−Removed: Funding for the redemption of shares will be limited to the cumulative net proceeds we receive from the sale of shares under the Secondary DRIP Offering, net of shares redeemed to date.
−Removed: In addition, we will generally limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12-month period ending on the last day of the fiscal quarter for which the redemptions are being paid, and to the net proceeds we receive from the sale of shares in the respective quarter under the Secondary DRIP Offering.
+Added: We will limit the number of shares redeemed pursuant to our share redemption program as follows:
+Added: (1) we will not redeem in excess of 5% of the weighted average number of shares outstanding during the trailing 12 months prior to the end of the fiscal quarter for which the redemptions are being paid;
+Added: and (2) funding for the redemption of shares will be limited, among other things, to the net proceeds we receive from the sale of shares under our DRIP, net of shares redeemed to date.
+Added: In an effort to accommodate redemption requests throughout the calendar year, we will generally limit quarterly redemptions to approximately 1.25% of the weighted average number of shares outstanding during the trailing 12-month period ending on the last day of the fiscal quarter for which the redemptions are being paid, and to the net proceeds we receive from the sale of shares in the respective quarter under the Secondary DRIP Offering.
Any of the foregoing limits might prevent us from accommodati ng all redemption requests made in any fiscal quarter or in any 12-month period.
−Removed: As of March 31, 2022, the estimated per share NAV was $7.20, which was determined by the Board on May 25, 2021 using a valuation date of March 31, 2021.
+Added: As of June 30, 2022, the estimated per share NAV was $7.20, which was determined by the Board on May 25, 2021 using a valuation date of March 31, 2021.
In general, we redeem shares on a quarterly basis.
1 unchanged sentence
Any redemption capacity that is not used as a result of the withdrawal or rejection of redemption requests may be used to satisfy the redemption requests of other stockholders received for that fiscal quarter, and such redemption payments may be made at a later time than when that quarter’s redemption payments are made.
−Removed: During the three months ended March 31, 2022, we redeemed shares, including those redeemable due to death, as follows:
+Added: During the three months ended June 30, 2022, we redeemed shares, including those redeemable due to death, as follows:
Redeemed Average Price
6 unchanged sentences
Plans or Programs
−Removed: January 1, 2022 - January 31, 2022 — $ 7.20 — (2)
−Removed: February 1, 2022 - February 28, 2022 1,338,131 $ 7.20 1,338,131 (2)
−Removed: March 1, 2022 - March 31, 2022 7,683 $ 7.20 7,683 (2)
+Added: April 1, 2022 - April 30, 2022 — $ — — (2)
+Added: May 1, 2022 - May 31, 2022 1,380,718 $ 7.20 1,380,718 (2)
+Added: June 1, 2022 - June 30, 2022 14,377 $ 7.20 14,377 (2)
Total 1,395,095 1,395,095 (2)
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.