Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Issuer Purchase of Equity Securities during the third quarter of 2024:
+Added: Issuer Purchase of Equity Securities during the first quarter of 2025:
Remaining number
5 unchanged sentences
Announced Plan
−Removed: July 1-31, 2024
−Removed: August 1-31, 2024
−Removed: September 1-30, 2024
+Added: January 1-31, 2025
+Added: February 1-29,2025
+Added: March 1-31, 2025
On August 20, 2007, NewReal, Inc., the General Partner authorized an equity repurchase program (“Repurchase Program”) under which the Partnership was permitted to purchase, over a period of twelve months, up to 300,000 Depositary Receipts (each of which is one-tenth of a Class A Unit).
4 unchanged sentences
Repurchases of Depositary Receipts or Partnership Units pursuant to the Repurchase Program may be made by the Partnership from time to time in its sole discretion in open market transactions or in privately negotiated transactions.
−Removed: From August 20, 2007 through September 30, 2024, the Partnership has repurchased 1,549,824 Depositary Receipts at an average price of $31.80 per receipt (or $954.00 per underlying Class A Unit), 4,533 Class B Units and 239 General Partnership Units, both at an average price of $1,288.00 per Unit, totaling approximately $56,035,000 including brokerage fees paid by the Partnership .
−Removed: During the nine months ended September 30, 2024, the Partnership purchased a total of 17,590 Depositary Receipts.
+Added: On March 12, 2025, the General Partner authorized the President and Treasurer to cause the Partnership to repurchase, on the open market or otherwise, including through individually negotiated purchases and through a written trading plan that complies with the requirements of Rule 10b5-1, Depositary Receipts and Partnership Units in such quantities, at such prices, in such manner and on such terms and conditions as the Authorized Persons determine are in the best interests of the Partnership;
+Added: provided, however, that (i) the aggregate cost of Depositary Receipts and Partnership Units repurchased shall not exceed $5 million, (ii) no Depositary Receipts or Partnership Units shall be repurchased after the date that is 12 months after the effective date hereof, (iii) no Depositary Receipt shall be repurchased( the “Repurchase Plan”);
+Added: The Repurchase Plan requires the Partnership to repurchase a proportionate number of Class B Units and General Partner Units in connection with any repurchases of any Depositary Receipts by the Partnership based upon the 80%, 19% and 1% fixed distribution percentages of the holders of the Class A, Class B and General Partner Units under the Partnership Agreement.
+Added: The Repurchase Plan shall be made in accordance with the terms of Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and shall be made in accordance with all applicable laws and regulations in effect from time to time.
+Added: From August 20, 2007 through March 31, 2025, the Partnership has repurchased 1,550,442 Depositary Receipts at an average price of $32.21 per receipt (or $966.32 per underlying Class A Unit), 4,538 Class B Units and 239 General Partnership Units, both at an average price of $1,289.00 per Unit, totaling approximately $56,098,000 including brokerage fees paid by the Partnership .
+Added: During the three months ended March 31, 2025, the Partnership purchased a total of 84 Depositary Receipts.
The average price was $80.34 per receipt, or $2,410.20 per unit.
−Removed: The cost including commission was approximately $1,292,000.
−Removed: The Partnership was required to repurchase 139.3 Class B Units and 7.3 General Partnership units at a cost of $306,124 and $16,112 respectively.
+Added: The cost including commission was approximately $6,900.The Partnership was required to repurchase 0.67 Class B Units and 0.04 General Partnership units at a cost of $1,603 and $552 respectively.
Defaults Upon Senior Securities
2 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.