Arbor Realty Trust, Inc. (NYSE: ABR) announced today that it priced its public offering of 6,500,000 shares of common stock for total expected gross proceeds of approximately $91.9 million before underwriting discounts and commissions and expenses. The offering was upsized from the previously announced offering size of 6,000,000 shares. The offering is subject to customary closing conditions and is expected to close on December 12, 2019.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of its common stock.

The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes. The Company also intends to use a portion of the net proceeds from this offering to purchase an aggregate of 650,000 shares, or 747,500 shares if the underwriters exercise in full their option to purchase additional shares, of the Company’s common stock from its Chief Executive Officer, Arbor Commercial Mortgage, LLC and/or an estate planning family vehicle established by the Company’s Chief Executive Officer, at the same price the underwriters will purchase the shares in this offering.

J.P. Morgan, JMP Securities and Raymond James are joint book-running managers for the offering.