Arbor Realty Trust (ABR) Prices 7M Share Common Offering for Gross Proceeds of Approx. $94.5M

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Go back to Arbor Realty Trust (ABR) Prices 7M Share Common Offering for Gross Proceeds of Approx. $94.5M

Arbor Realty Trust Announces Pricing of Public Offering of Common Stock

November 10, 2020 6:48 PM EST

UNIONDALE, N.Y., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the Company) (NYSE: ABR) announced today that it priced its public offering of 7,000,0000 shares of common stock for total expected gross proceeds of approximately $94.5 million before underwriting discounts and commissions and expenses. The offering is subject to customary closing conditions and is expected to close on November 13, 2020.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock.

The Company intends to use the net proceeds from the offering... More