To Unitholders of Apartment Income REIT, L.P.: On April 7, 2024, Apartment Income REIT Corp., a Maryland corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Apex Purchaser LLC, a Delaware limited...Merger Agreement • April 19th, 2024 • Apartment Income REIT, L.P. • Operators of apartment buildings
Pursuant to the terms and subject to the conditions in the Merger Agreement, at the effective time of the Merger, each share of Class A common stock of the Company that is issued and outstanding immediately prior to the effective time will be automatically cancelled and converted into the right to receive an amount in cash equal to $39.12 (the “Common Stock Merger Consideration”), without interest. During the term of the Merger Agreement, neither the Company nor Apartment Income REIT, L.P., the Company’s operating partnership (the “Partnership”) may pay any dividends on its common stock or units (other than with respect to distributions on the Partnership’s preferred units that are required pursuant to the terms of the Seventh Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of July 7, 2021, together with the Amended and Restated Partnership Unit Designation for the Class I High Performance Partnership Units and the Partnership Unit Designations for th
