UDR (UDR) Prices 19M Offering at $25.70/Share


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May 30, 2012 9:03 AM EDT Send to a Friend
UDR, Inc. (NYSE: UDR) announced the pricing of a public offering of 19,000,000 shares of its common stock at a price of $25.70 per share, for net proceeds of approximately $468.5 million after underwriting discounts and commissions and estimated offering expenses (or approximately $538.8 million if the underwriters' option to purchase additional shares is exercised in full). UDR has granted the underwriters a 30-day option to purchase up to an additional 2,850,000 shares of common stock. The offering is expected to close on June 4, 2012, subject to customary closing conditions. All of the shares of common stock were offered by the Company and will be issued under a currently effective shelf registration statement filed with the Securities and Exchange Commission.

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