Century west multifamily income reit

Century West Multifamily Income REIT (the "Company") is conducting a twenty-day (minimum) to sixty-day (maximum) Blind Reverse Auction for up to TEN PERCENT (10%) of its shares to be offered to the public through its upcoming Initial Public Offering.

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Blind Reverse Auction Start date: WEDNESDAY, MAY 10, 2024

First Closing: FRIDAY, JUNE 7, 2024

Latest Closing Date: MONDAY, JULY 15, 2024

Anticipated Capital Markets Listing Date: Mid-2025 (TBD)

 

In the Blind Reverse Auction process for the Company's REIT Equity Shares, the Company is not setting a price for its Equity Shares being sold, but the Company's Board of Directors has decided on the number of REIT Equity Shares to be sold and the "asking price" per Share. 

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During the Reverse Auction, Investors will submit "price bids" and the number of REIT Equity Shares the investor would like to purchase. After all of the Company's REIT Equity Shares being offered have been sold (or committed to), the Company will create a single list with the highest bid prices at the top and the lowest bid prices at the bottom. In the event that more REIT Equity Shares are sold than are offered, the Company will work down the list of the over sale starting at the highest bid price buyer and working down the list until the desired number of REIT Equity Shares have been sold. 

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DETAILS:

Through the Company's Blind Reverse Auction for REIT Equity Shares, the Company is auctioning 200,000 Limited Liability Equity Membership Units (the "REIT Equity Share(s)"), with an Asking Price of $10.00 USD per REIT Equity Share. (Note: the below example is for example purposes only, and does not represent any current bids of the Company's REIT Equity Shares):

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Bidders:

Investor A: Places a bid for 25,000 Shares at $9.00 USD per Share

Investor B: Places a bid for 15,000 Shares at $8.00 USD per Share

Investor C: Places a bid for 35,000 Shares at $7.00 USD per Share

Investor D: Places a bid for 50,000 Shares at $6.00 USD Per Share

Investor E: Places a bid for 10,000 Shares at $5.00 USD Per Share

Investor F: Places a bid for 35,000 Shares at $4.00 USD Per Share

Investor G: Places a bid for 40,000 Shares at $3.00 USD Per Share

Investor H: Places a bid for 25,000 Shares at $2.00 USD Per Share

Investor I: Places a bid for 50,000 Shares at $1.00 USD Per Share

Investor J: Places a bid for 10,000 Shares at $0.50 USD Per Share

TOTAL: 295,000 BIDS

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Investments Automatically Accepted & Automatically Rejected:

Investor A: 25,000 Shares Automatically Issued at $9.00 USD Per Share ($225,000 USD)

Investor B: 15,0000 Shares Automatically Issued at $8.00 USD Per Share ($120,000 USD)

Investor C: 35,000 Shares Automatically Issued at $7.00 USD Per Share ($245,000 USD)

Investor D: 25,000 (Partial Bid) Shares Automatically Issued at $6.00 USD Per Share ($150,000 USD)

Investor D: 25,000 (Partial Bid) at $6.00 USD is Automatically Rejected. 

Investor E: Full Bid of 10,000 Shares at $5.00 USD is Automatically Rejected

Investor F: Full Bid of 35,000 Shares at $4.00 USD is Automatically Rejected

Investor G: Full Bid of 40,000 Shares at $3.00 USD is Automatically Rejected

Investor H: Full Bid of 25,000 Shares at $2.00 USD is Automatically Rejected

Investor I: Full Bid of 50,000 Shares at $1.00 USD is Automatically Rejected

Investor J: Full Bid of 10,000 Shares at $0.50 USD is Automatically Rejected.

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The Company has broad discretionary authority over any bids and investments in the Company's REIT Equity Shares in order to maintain the quality of Investors associated with the Company, the public confidence in the Company, as well as to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and to protect investors and the public interest.

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The Company may use such discretion to deny any bid of any Investor bidding on the Company's REIT Equity Shares, apply additional or more stringent criteria, or suspend (or deny) any Investor based on any event, condition, or circumstance that exists or occurs that makes the proposed acceptance of such bid by an Investor as inadvisable or unwarranted in the opinion of the Company.

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