Sponsored: Computershare – More Than a Transfer Agent for InvenTrust Properties

Computershare is a trusted business partner and solutions provider. The following is a case study that illustrates Computershare’s value.

Situation

InvenTrust Properties Corp. is an open-air retail real estate investment trust with grocery-anchored neighborhood and community centers throughout the Sunbelt.

InvenTrust was working with a transfer agent that provided services for the company as a non-traded REIT security. With a plan to list on the New York Stock Exchange, InvenTrust wanted to improve the level of service they were offering their key stakeholders while looking at ways to reduce costs and ensure a smooth listing. They decided to investigate options for a new service provider.

Solutions

After a comprehensive vetting process that included touring the facilities and meeting the team, InvenTrust selected Computershare as their transfer agent, based on the wide range of services, technology offered, and the highly responsive, client-focused customer service. Computershare assisted with several events.

• Share repurchase program: InvenTrust had initiated a share repurchase program with their former transfer agent, and Computershare’s corporate actions team took over this initiative. The use of the mergers and acquisitions digital portal helped streamline the process for shareholders, advisers, and custodians. The team processed submissions, accurately completed payouts and provided reporting, meeting the deadlines.
• Reverse stock split: Prior to listing, InvenTrust also executed a reverse stock split. This event required the use of specialized services, all of which are available at Computershare, relying on the expertise of the corporate actions group to handle the details.
• Listing event: To manage InvenTrust’s listing on the NYSE, Computershare developed a detailed project plan of all tasks, meeting weekly with the company to review the necessary activities and keep timelines on track. Tasks included drafting communications to custodians, shareholders and financial advisers, coordinating custodian positions, updating systems, and delivering reports. The result was a successful listing event.
• Dutch auction: InvenTrust again enlisted the assistance of the corporate actions team to execute a Dutch auction, using the M&A digital portal for this event. Georgeson, a Computershare company, acted as information agent.
• Employee Stock Purchase Plan: After the listing, InvenTrust implemented an Employee Stock Purchase Plan, or ESPP, and selected Computershare as their plan provider. They looked to Computershare for expertise in designing, implementing, and administering the plan.
• Equity Issuance: Computershare assisted InvenTrust and their counsel on their equity offering of 9.2 million shares, providing support with planning, collecting the appropriate legal documents, and recordkeeping the shares on the closing date.

“Computershare is more than a transfer agent for InvenTrust. They are a business partner and solution provider delivering an impressive range and depth of services. Computershare has always been willing to work with us to find solutions to match our complex corporate events,” said Dan Lombardo, vice president of investor relations at InvenTrust Properties Corp.

Successes

InvenTrust is pleased with their decision to choose Computershare as their transfer agent for several reasons.

• Cost savings: Using one vendor for multiple services has delivered significant cost savings.
• Improved service: Throughout all the events InvenTrust completed in the past few years, they have consistently received a high level of service from Computershare as their trusted partner.
• Range of services under one roof: Outside the transfer agency space, InvenTrust has benefited from the simplicity of having one single provider for services from a share repurchase program to reverse stock split, listing event, Dutch auction, and ESPP implementation and administration.

“When we have a need, we can always count on our Computershare contacts to pick up the phone and respond promptly. Our team truly appreciates this excellent service,” added Lombardo.

Click here to learn more about Computershare’s full-service offering for alternative investments.

About: Computershare is the foremost provider of strategic shareholder services to public and private companies, including registered non-listed real estate investment trusts, business development companies, and other alternative investment securities. The Computershare team offers expertise and responsive client service, as well as innovative technology and tools for cap table management, investor records, and compliance needs. Trusted by more than 6,000 companies representing 25 million investor accounts, Computershare’s proven solutions help clients securely and easily manage important data.

Computershare is a sponsor of AltsWire, and the article was published as part of their standard directory sponsorship package.

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