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Armada Hoffler Properties registers to sell 5 million common shares
Deal would raise about $48.5 million based on Monday’s closing price
By Susanna Moon
Chicago, Sept. 9 – Armada Hoffler Properties, Inc. registered to sell 5 million common shares in a public offering in a 424B5 filing with the Securities and Exchange Commission.
There is an over-allotment option for 750,000 shares.
Robert W. Baird & Co. Inc., Raymond James & Associates, Inc. and Stifel, Nicolaus & Co., Inc. are the underwriters.
The company will contribute the proceeds to its operating partnership, which will use the proceeds to repay a portion of debt borrowed under the company’s revolving credit facility.
The company’s stock closed at $9.69 (NYSE: AHH) on Sept. 8.
The real estate company is based in Virginia Beach.
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