BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (“RVI” or the “Company”) today announced that it has filed a certificate of dissolution with the Secretary of State of the State of Ohio. The filing is consistent with the Company’s originally stated strategy of realizing value through operations and sales of its properties and follows the sale of the Company’s last real estate investment in April 2022. Pursuant to the certificate of dissolution, the Company intends to pursue amounts owed to it by third parties, satisfy known and presented claims and take all other actions required to liquidate and wind-up its business and affairs.
In addition to the special distribution announced on June 29, 2022, and subject to uncertainties inherent in winding up its business, the Company expects to make one or more small cash distributions to shareholders in the future as expenses and any claims against the Company are satisfied, resolved or fail to materialize. The Company is unable to provide any assurances with respect to the amounts of any such distributions or the timing thereof.
About RVI
RVI is an independent publicly traded company whose common shares trade under the ticker symbol RVIC on the OTC Pink Market. The Company has completed the sale of all of its real estate holdings and is in the process of winding up its business. RVI is managed by one or more subsidiaries of SITE Centers Corp. Additional information about RVI is available at www.retailvalueinc.com.
Safe Harbor
The Company considers information in this press release that relates to expectations for future periods to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause actual results to differ materially from those indicated by such forward-looking statements, including the amount of costs and expenses relating to the wind-up of the Company’s business; the Company’s ability to collect amounts owed to it by third parties; and the cost and outcome of any legal proceedings that may arise with respect to the Company. The Company undertakes no obligation to revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
