ONL Overview

Invalid Nomination Notice: Orion Properties (ONL) declared that The Kawa Fund Limited's notice to nominate five board candidates is invalid due to non-compliance with the company's bylaws, including failure to prove eligibility as a stockholder.

Bylaw Compliance Issues: The Kawa Fund's nomination lacked necessary details about its plans for the company and did not meet several other bylaw requirements, according to Orion's board.

Upcoming Annual Meeting: Orion Properties plans to announce the date for its 2026 annual meeting and will file proxy materials with the SEC in the near future.

Stock Performance: Following the announcement, Orion's stock rose by 4.6% in morning trading.

Operating Results Announcement: Orion Properties Inc. will release its third-quarter operating results for the period ending September 30, 2025, after market close on November 6, 2025.

Webcast and Conference Call Details: A conference call to discuss the results will be held on November 7, 2025, at 10:00 a.m. ET, accessible via the company's website or by phone for participants in the U.S., Canada, and internationally.

Acquisition Proposal Rejected: Orion Properties Inc. has rejected a revised acquisition proposal of $2.75 per share from Kawa Capital Management, stating it undervalues the company and is not in the best interests of its stockholders.

Future Opportunities Considered: The Board remains open to evaluating proposals that appropriately value the company, with Wells Fargo and Hunton Andrews Kurth LLP advising Orion on financial and legal matters, respectively.

Orion Properties Board Decision: The board of Orion Properties rejected Kawa Capital Management's revised acquisition offer of $2.75 per share, stating it undervalued the company and was not in the best interest of shareholders.

Stock Market Reaction: Following the announcement, Orion Properties' stock rose by 4.7% in premarket trading, reaching a price of $2.86.