Associated Estates Realty (AEC) Completes 6.33M Offering at $14.40/Share
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Associated Estates Realty Corporation (NYSE: AEC) today announced that it completed the sale of 6,325,000 of its common shares at a price of $14.40 per share, representing 5,500,000 of its common shares sold pursuant to its previously announced public offering and an additional 825,000 common shares pursuant to the underwriters' option to purchase additional common shares. The net proceeds were approximately $87.2 million after deducting underwriting discounts and commissions and offering expenses. All of the shares were offered by the Company and were issued under the Company's currently effective shelf registration statement filed with the Securities and Exchange Commission.
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