Griffin Announces Corporate Updates and New Name

NEWS FROM:                                 

INDUS REALTY TRUST, INC.        
(formerly GRIFFIN INDUSTRIAL REALTY, INC.)

• Completion of Maryland reincorporation
• Name change from Griffin Industrial Realty, Inc. to INDUS Realty Trust, Inc. and change in trading symbol from “GRIF” to “INDT”
• REIT conversion effective January 1, 2021 
  

NEW YORK, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Griffin Industrial Realty, Inc. (Formerly Nasdaq: GRIF) announced the following corporate updates concerning its reincorporation as a Maryland corporation, the adoption of a new name and trading symbol and the start of operations as a real estate investment trust (“REIT”) on January 1, 2021.

“I am excited to announce the completion of a number of strategic milestones as we start the new year,” said Michael Gamzon, President & Chief Executive Officer. “We look forward to operating as a REIT under our new corporate identity, INDUS Realty Trust, Inc., and embarking on the next phase of our growth.”

Completion of Maryland Reincorporation

On December 30, 2020, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), by and among Griffin Industrial Realty, Inc., a Delaware corporation (“Griffin DE” or the “Predecessor Company”), Griffin Industrial Maryland, Inc., a Maryland corporation and the Predecessor Company’s wholly-owned subsidiary (“Griffin MD”), and Griffin Industrial Maryland, LLC, a Maryland limited liability company and a wholly-owned subsidiary of Griffin MD (“Griffin MD Sub”), the Predecessor Company merged with and into Griffin MD Sub (the “Reincorporation Merger”), with Griffin MD Sub surviving as the surviving entity and a wholly-owned subsidiary of Griffin MD, on the terms set forth in the Merger Agreement.

As a result of the Reincorporation Merger, each outstanding share of the common stock, par value $0.01 per share, of the Predecessor Company was converted into one share of common stock, par value $0.01 per share, of Griffin MD.

Name Change and Update to NASDAQ Trading Symbol

On December 30, 2020, the Board of Directors of Griffin MD, adopted an amendment (the “Certificate of Amendment”) to its Amended and Restated Certificate of Incorporation to change the name of Griffin MD to INDUS Realty Trust, Inc. (“INDUS” or the “Company”). The Certificate of Amendment was filed with the Maryland Department of Assessments and Taxation on December 30, 2020, and it became effective on December 31, 2020. The Board of Directors of Griffin MD also amended and restated the by-laws and corporate governance documents of Griffin MD to reflect the name change to INDUS Realty Trust, Inc., effective upon the effectiveness of the Certificate of Amendment.