![]() United Development Funding IV (“UDF IV”) announced on that it intends to list its common shares on NASDAQ under the ticker UDF on J(the “Listing”) and commence a tender offer to purchase up to $35 million of its common shares of beneficial interest at a price equal to $20.50 per share (“the Tender Offer”) on the same date. YOUR UDF IV ACCOUNT NUMBER: (Usually begins with 200XXXXX).CONTACT US: Ticker Symbol: UDF Important Listing Information United Development Funding PO Box 219096 Kansas City, MO 64121-9096 1-87 46 -fax If more shares are tendered than can be honored under the $35 million cap all tenders will be pro-rated, except for odd-lot tenders. TENDER OFFER UDF IV has announced that it intends to commence the Tender Offer on Jfor approximately 1,707,317 shares at $20.50 per share or a maximum of $35 million. ACCOUNT RECONCILIATION PERIOD In anticipation of the Listing, no changes to account information can be processed between and June 6, 2014. Stockholders can expect to receive a payment for any fractional share they own in an amount equivalent to $20.50 per share of UDF IV, which is the purchase price per share in the Tender Offer. All stockholders will be paid in cash for their fractional share shortly after the Tender Offer ends. FRACTIONAL SHARES In order to facilitate a smooth and orderly share transfer process, fractional shares will not be listed on NASDAQ. Stockholders may access their account through: Financial advisors may obtain account confirmations through Stockholders and financial advisors may call the transfer agent for UDF IV by dialing 87. Account confirmations are also available to stockholders and financial advisors. UDF IV account numbers are included on statements and confirms currently sent monthly to UDF IV stockholders. There will be no change in UDF IV account numbers upon Listing. TRANSFER AGENT The transfer agent for UDF IV is DST Systems. If you do not have a brokerage account you must establish one before you can move your shares. This process takes three business days from initiation to deposit of shares into the stockholder’s brokerage account. The broker submits the required information to their back office or directly through the DTCC, which will handle the actual movement of shares. For a DRS, an investor informs his or her broker to initiate a DRS share movement. ![]() For all other accounts, shares will need to be moved to brokerage accounts using a DRS (Direct Registration System) movement. For most IRA and other custodial accounts, reconciliation will be performed prior to the Listing and those shares will be moved in bulk automatically to the custodian. MOVING/SELLING SHARES Immediately upon Listing, the UDF IV shares will be tradable under the ticker symbol UDF. There will be no cost to stockholders relating specifically to the Listing, but stockholders may incur costs if they sell shares on NASDAQ. Additional and updated information can be found online at or on UDF IV STOCKHOLDER IMPACT OF THE LISTING UDF IV stockholders will be able to transfer, sell or buy additional UDF IV shares upon commencement of trading under ticker symbol UDF. YOUR BROKERAGE ACCOUNT NUMBER United Development Funding IV (“UDF IV”) announced on that it intends to list its common shares on NASDAQ under the ticker UDF on J(the “Listing”) and commence a tender offer to purchase up to $35 million of its common shares of beneficial interest at a price equal to $20.50 per share (“the Tender Offer”) on the same date.Important Information: For DRS requests: Understanding the UDF IV Listing Event Photos for illustrative purposes only. ![]()
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