Independence Realty Trust (IRT) Announces Proposed 8.5M Share Common Offering

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Go back to Independence Realty Trust (IRT) Announces Proposed 8.5M Share Common Offering

Independence Realty Trust, Inc. Announces Public Offering of 8,500,000 Shares of Common Stock

February 19, 2020 4:07 PM EST

PHILADELPHIA--(BUSINESS WIRE)-- Independence Realty Trust, Inc. (NYSE: IRT) (IRT) today announced that it is commencing an underwritten public offering of 8,500,000 shares of common stock, par value $0.01 per share, in connection with the forward sale agreement described below. IRT expects to grant the underwriters a 30-day option to purchase up to 1,275,000 additional shares of common stock.

KeyBanc Capital Markets and BMO Capital Markets are acting as joint book-running managers of the offering.

IRT expects to enter into a forward sale agreement with Bank of Montreal (the forward purchaser) with respect to 8,500,000... More