Company: CLPR
Filing Date: 2025-01-23
Form Type: S-3
Source: 0001437749-25-001690
Chunk: 23

Company: Clipper Realty Inc.
Filing Date: 2025-01-23
Form: S-3
Chunk 23
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 rights, if applicable; |

| ● | the aggregate number of rights being issued; |

| ● | the date, if any, on and after which the rights may be transferable separately; |

| ● | the date on which the right to exercise such rights will commence and the date on which such right will expire; |

| ● | any listing of the rights and the shares of common stock or preferred stock purchasable upon exercise of the rights on any securities exchange; |

| ● | if appropriate, a discussion of any additional material U.S. federal income tax considerations applicable to the rights; and |

| ● | any other material terms of the rights, including terms, procedures and limitations relating to the distribution, exchange and exercise of such rights. |

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DESCRIPTION OF UNITS</div>

This section describes some of the general terms and provisions applicable to units we may issue from time to time. We will describe the specific terms of a series of units and the applicable unit agreement in the applicable prospectus supplement. The following description and any description of the units in the applicable prospectus supplement may not be complete and is subject to and qualified in its entirety by reference to the terms and provisions of the applicable unit agreement. A form of the unit agreement reflecting the particular terms and provisions of a series of offered units will be filed with the SEC in connection with the offering and incorporated by reference in the registration statement and this prospectus.

We may issue units from time to time in such amounts and in as many distinct series as we determine. We will issue each series of units under a unit agreement to be entered into between us and a unit agent to be designated in the applicable prospectus supplement. When we refer to a series of units, we mean all units issued as part of the same series under the applicable unit agreement.

We may issue units consisting of any combination of two or more securities described in this prospectus. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date.

The applicable prospectus supplement will describe the terms of the units offered pursuant to it, including one or more of the following:

| ● | the designation and terms of the units and of the