Veris Residential, Inc. Announces Withdrawal of Its Public Offering of Common Stock

JERSEY CITY, New Jersey, June 18, 2024 /PRNewswire/ — Veris Residential, Inc. (NYSE: VRE) (the “Company”) announced today that it has withdrawn its proposed public offering of common stock.

Mahbod NiaChairman and Chief Executive Officer of Veris Residential, stated: “After careful consideration of all relevant factors, consistent with our disciplined approach and in the best interests of our shareholders, we have made the decision to withdraw our public offering of common stock previously announced. . We greatly appreciate the continued trust and support of our shareholders as we seek to continue our three-pronged approach to value creation encompassing capital allocation and further optimization of our platform, portfolio and balance sheet.

Following the withdrawal, no shares of common stock will be sold in the offering. Additionally, Veris Residential intends to terminate its pending acquisition of 55 Riverwalk Place.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification. under the securities laws of any such state or jurisdiction.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the federal securities laws. The Company intends that these forward-looking statements are covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. . These forward-looking statements relate, without limitation, to the future economic performance of the Company, plans and objectives for future operations and projections of revenue and other financial matters. Forward-looking statements can be identified by the use of words such as “may”, “will”, “plan”, “potential”, “projected”, “should”, “expect”, “anticipate”, “estimate ”, “target”, “continue” or comparable terminology. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which cannot be accurately predicted and some of which may not even be anticipated. Although the Company believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions at the time they were made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial or otherwise, may differ materially from what is expressed or anticipated in this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Factors that could materially affect the Company’s results include the risk factors contained in the Company’s Annual Report on Form 10-K for the completed fiscal year. December 31, 2023, and other public company documents. Copies of each filing may be obtained from the Company or the SEC. The Company undertakes no obligation to update and supplement any forward-looking statements that become untrue as a result of subsequent events, new information or otherwise.

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically inspired Class A multifamily properties that meet the sustainability-minded lifestyle needs of today’s residents while seeking to make a positive impact on the communities it serves and the planet as a whole. Of the March 31, 2024the Company owned or had interests in 22 multi-family rental properties, as well as non-core assets including four parking/retail properties, as well as developable land.

Investor contact

Amandine Lombard
Financial director
732-590-1010
(email protected)

Anna Malhari
CEO
732-590-1010
(email protected)

SOURCE Veris Residential, Inc.