Sun Communities (SUI) Prices 3.25M Share Common Stock Offering
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Sun Communities, Inc. (NYSE: SUI) announced that it has priced its previously announced underwritten public offering of 3,250,000 shares of its common stock. As part of the offering, the Company granted the underwriters a 30-day option to purchase up to an additional 487,500 shares of its common stock. The offering is expected to close on Wednesday, September 14, 2016, subject to customary closing conditions.
The Company intends to use the net proceeds of the offering to repay borrowings outstanding under the revolving loan under its senior credit facility, to fund possible future acquisitions and for working capital and general corporate purposes.
Citigroup and BofA Merrill Lynch acted as joint book-running managers for the offering.
The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 telephone: (800) 831-9146 or by contacting BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department or by email at firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesCiti, Merrill Lynch, Bank of America
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