Deutsche Bank is the bookrunner; deal also has $6.75 million greenshoe
By Devika Patel
Knoxville, Tenn., March 22 - Arbor Realty Trust, Inc. said it priced a $45 million public offering of stock with a $6.75 million greenshoe. The deal was announced Thursday.
The company will sell 5,625,000 common shares at $8.00 per share. The price per share is a 2.8% discount to the March 21 closing share price of $8.23.
Deutsche Bank Securities Inc. is the bookrunning manager.
Proceeds will be used to make investments, repurchase or pay liabilities and for general corporate purposes.
Arbor Realty is a real estate investment trust based in Uniondale, N.Y., that invests in multi-family and commercial real estate-related bridge and mezzanine loans, preferred equity, discounted mortgage notes and mortgage-related securities.
| Issuer: | Arbor Realty Trust, Inc.
|
| Issue: | Common stock
|
| Amount: | $45 million
|
| Greenshoe: | $6.75 million
|
| Shares: | 5,625,000
|
| Price: | $8.00
|
| Warrants: | No
|
| Bookrunner: | Deutsche Bank Securities Inc.
|
| Manager: | JMP Securities LLC (lead)
|
| Announcement date: | March 21
|
| Pricing date: | March 22
|
| Stock symbol: | NYSE: ABR
|
| Stock price: | $8.23 at close March 21
|
| Market capitalization: | $247.48 million
|
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