By Devika Patel
Knoxville, Tenn., April 20 - Monmouth Real Estate Investment Corp. plans a $30 million registered direct offering of stock, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.
The company will sell 4 million common shares at $7.50 per share.
CSCA Capital Advisors, LLC is the agent for the deal.
Proceeds will be used to purchase additional properties in the ordinary course of business and for general corporate purposes.
Monmouth is a real estate investment trust based in Freehold, N.J., with a concentration on net-leased industrial policies.
| Issuer: | Monmouth Real Estate Investment Corp.
|
| Issue: | Common shares
|
| Amount: | $30 million
|
| Shares: | 4 million
|
| Price: | $7.50
|
| Warrants: | No
|
| Agent: | CSCA Capital Advisors, LLC
|
| Pricing date: | April 20
|
| Stock symbol: | Nasdaq: MNRTA
|
| Stock price: | $7.78 at close April 19
|
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