Farmland Partners (FPI) Prices 3.1M Share Common Stock Offering for Proceeds of ~$33.3M
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Farmland Partners Inc. (NYSE: FPI) announced that it has priced its underwritten public offering of 3,100,000 shares of its common stock at a public offering price of $11.25 per share, for gross proceeds to the Company of approximately $33.3 million.
The offering is expected to close on December 5, 2016, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 465,000 shares of the Company's common stock.
The Company will contribute the net proceeds from the offering to Farmland Partners Operating Partnership, LP, its operating partnership (the "Operating Partnership"), in exchange for Class A common units of limited partnership interest in the Operating Partnership. The Operating Partnership intends to use the net proceeds from the offering for future farmland acquisitions in accordance with the Company's investment strategy, including $3.3 million to fund the cash portion of the purchase price of one farm currently under contract, and for general corporate purposes.
Baird and Stifel are serving as active book-running managers for the offering. Wunderlich and Janney Montgomery Scott are serving as passive book-running managers for the offering. FBR is serving as co-manager for the offering.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Compass Diversified (CODI) Plans 5.6M Common Share Offering
- UPDATE: Stifel Downgrades PennTex Midstream Partners, LP (PTXP) to Hold
- UPDATE: Stifel Downgrades Coca-Cola European Partners (CCE) to Hold
Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesStifel, Robert W Baird, Janney Montgomery Scott, S3, Definitive Agreement
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!