Arbor Realty Trust Prices Share Issue
Arbor Realty Trust has priced its upcoming stock issue. The company will sell the 5.625 million common shares it's floating at $8.00 apiece in the form of common stock in an underwritten public flotation. Additionally, the company's underwriters have been granted a 30-day purchase option for an additional 843,750 shares.
Arbor said it plans to use the proceeds of the offering for "investments, to repurchase or pay liabilities and for general corporate purposes."
Deutsche Bank's eponymous Securities unit is the sole book-running manager for the issue, while JMP Securities is its lead manager.
The article Arbor Realty Trust Prices Share Issue originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.