Orion Properties Rejects Revised $2.75/Share Cash Acquisition Proposal From Kawa Capital

(RTTNews) - Orion Properties Inc. (ONL), a real estate company, said on Monday that it has rejected the revised acquisition proposal of $2.75 per share in cash from Kawa Capital Management submitted on July 17.

The Board has determined the revised proposal has significantly undervalued the company and is not in the best interests of Orion and its stockholders.

Reginald H. Gilyard, Non-Executive Chairman of the Orion Board, said: "The Board remains open to evaluating opportunities to enhance stockholder value and, with management, will consider any proposal that appropriately values the company and its prospects."

This rejected proposal follows an earlier $2.50 per share proposal submitted on June 20, 2025, which Orion's Board rejected on July 9.

Wells Fargo is acting as financial advisor, and Hunton Andrews Kurth LLP is acting as legal advisor to Orion.

ONL was up by 2% at $2.80 per share in the pre-market trade on the New York Stock Exchange.