Winthrop Realty Trust Floats New Stock Issue
Winthrop Realty Trust is tapping the markets for a round of capital raising. The real estate investment trust is floating 2.75 million common shares of its stock in an underwritten public offering priced at $11.45 per share. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 412,500 shares.
Winthrop said it plans to use the proceeds of the issue primarily to fund acquisitions. It may use a portion of the monies for "general working capital purposes, including funding capital expenditures, tenant improvements and leasing commissions."
The joint book-runners of the offering are Stifel Financial's Stifel Nicolaus and JMP Securities.
At the moment, Winthrop has nearly 33.7 million shares outstanding, and its stock most recently closed at $11.23 per share.
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