InsideArbitrage Event Driven Monitor – June 12, 2026

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Merger Arbitrage

1. MDV: Modiv Industrial (MDV) announced a regular quarterly cash dividend of $0.46 per share on the 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock for the second quarter of 2026 and a regular monthly cash distribution of $0.1 per share on the Class C common stock for July and August 2026, representing an annual distribution rate of $1.2.
2. NFBK: Columbia Financial (CLBK) and Northfield Bancorp (NFBK) provided an election form and letter of transmittal to Northfield shareholders so that they may elect to receive either shares of Columbia Financial, cash, or a combination of both. The deadline to elect the preferred form of merger consideration is July 10, 2026.
3. AES: The AES Corp (AES) announced the pricing of $600 million of its 5.2% senior notes due 2029 and $400 million of its 5.75% senior notes due 2033. The closing of the offering of the notes is expected to occur on June 16, 2026.

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