Certain Common Stock of CubeSmart are subject to a Lock-Up Agreement Ending on 31-DEC-2021.
December 31, 2021
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Certain Common Stock of CubeSmart are subject to a Lock-Up Agreement Ending on 31-DEC-2021. These Common Stock will be under lockup for 45 days starting from 16-NOV-2021 to 31-DEC-2021.
Details:
The company's directors and our executive officers have entered into lock-up agreements with the underwriters. Under these agreements, subject to exceptions, their directors and executive officers may not, directly or indirectly, (i) issue, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option or right or otherwise transfer or dispose of any common shares or securities convertible into or exchangeable for common shares, or file or cause to be filed any registration statement under the Securities Act with respect to any of the foregoing or (ii) enter into any swap or any other agreement, arrangement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of common shares or securities convertible into or exchangeable for common shares, whether any such swap or transaction described in clause (i) or (ii) above is to be settled by delivery of common shares or such other securities, in cash or otherwise, without the prior written consent of the representatives, for a period of 45 days from the date of this prospectus supplement. This consent may be given at any time without public notice.
CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer climate-controlled storage space for residential and commercial customers. It owns its assets and conducts its operations through the CubeSmart, L.P. (Operating Partnership), and subsidiaries of the Operating Partnership. Its customers rent storage cubes for their exclusive use, on a month-to-month basis. Additionally, some of its stores offer outside storage areas for vehicles and boats. Its stores are designed to accommodate both residential and commercial customers, with features, such as wide aisles and load-bearing capabilities for large truck access. Its customers can access their storage cubes during business hours, and some of its stores provide customers with 24-hour access. It owns about 611 self-storage properties located in 24 states and in the district of Columbia, containing an aggregate of about 44.1 million rentable square feet.