Deutsche Bank, Oppenheimer, BB&T, Aegis, National Securities assisted
By Devika Patel
Knoxville, Tenn., Dec. 2 - America First Multifamily Investors LP said the underwriters for its public offering of stock opted to exercise the deal's $6.75 million greenshoe in full for total proceeds of $51.75 million. The deal was announced Nov. 25 and priced for $45 million with the greenshoe on Nov. 26.
The company sold 8.28 million common shares at $6.25 per share. The price per share is a 6.72% discount to the Nov. 25 closing share price of $6.70. Of the shares, 1.08 million were part of the fully exercised greenshoe.
Deutsche Bank Securities Inc. was the lead bookrunning manager and Oppenheimer & Co. was the co-bookrunning manager.
Proceeds will be used to acquire additional mortgage revenue bonds and other investments and for general working capital needs.
The Omaha company manages a portfolio of federally tax-exempt mortgage revenue bonds, which have been issued to provide construction and/or permanent financing of multifamily residential apartments.
| Issuer: | America First Multifamily Investors LP
|
| Issue: | Common stock
|
| Amount: | $51.75 million (including $6.75 million greenshoe)
|
| Shares: | 8.28 million
|
| Price: | $6.25
|
| Warrants: | No
|
| Bookrunners: | Deutsche Bank Securities Inc. (lead), Oppenheimer & Co. (co-bookrunning manager)
|
| Lead manager: | BB&T Capital Markets
|
| Co-managers: | Aegis Capital Corp. and National Securities Corp.
|
| Announcement date: | Nov. 25
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| Pricing date: | Nov. 26
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| Settlement date: | Dec. 2
|
| Stock symbol: | Nasdaq: ATAX
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| Stock price: | $6.70 at close Nov. 25
|
| Market capitalization: | $280.16 million
|
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