UPDATE: Education Realty Trust Announces Pricing of Offering of 12.5M Shares at $9.05
Education Realty Trust, Inc. (NYSE: EDR) today announced that it has priced its public offering of 12,500,000 shares of its common stock at a price to the public of $9.05 per share. The Company has also granted the underwriters a 30-day option to purchase up to 1,875,000 additional shares of common stock to cover overallotments, if any, at the price to the public less the underwriting discount.
Subject to customary conditions, the offering is expected to close on or about November 8, 2011. The net proceeds to the Company, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $108.1. BofA Merrill Lynch and KeyBanc Capital Markets are serving jointly as book-running managers for the offering.
