Aimco (AIV) Prices 11M Offering
- U.S. GDP Rose 3.6% in Q3
- Despite Denials, Sherlund Convinced Ford's (F) Mulally Will Go to Microsoft (MSFT)
- Unusual 11 Mid-Day Movers 12/05: (CALI) (PBYI) (MEI) Higher; (SOL) (WTSL) (NWY) lower
- China's Central Bank Rocks Bitcoin; Says 'Not a Currency'
- Major Wall Street Research Firm Tackles Bitcoin Mania; Sees Significant Value
Apartment Investment and Management Company (NYSE: AIV) has priced its public offering of 11,000,000 shares of its common stock. Aimco intends to use approximately $150 million of the net proceeds to redeem all outstanding shares of its Class T Cumulative Preferred Stock, approximately $65 million of net proceeds to redeem all outstanding shares of its Class V Cumulative Preferred Stock and the remaining net proceeds to redeem outstanding shares of Class Y Cumulative Preferred Stock and for general corporate purposes. The offering is expected to close on May 16, 2012, subject to customary conditions. Aimco expects the preferred stock redemptions to occur in approximately 30 days.
You May Also Be Interested In
- US Ecology (ECOL) Lower After Pricing 2.6M Offering
- RAIT Financial Trust (RAS) Announces Convertible Notes Offering
- Empire State Realty Trust (ESRT) Declares Partial 7.95c Qtr. Dividend
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!