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Sun Communities, Inc.
SUI (the
"Company") today announced that it has commenced an underwritten public
offering of 3,000,000 shares of its common stock. The Company expects to grant
the underwriters a 30-day option to purchase up to an additional 450,000
shares of its common stock.
The Company intends to use the net proceeds of the offering to pay off the
entire amount outstanding under its senior secured revolving credit facility,
to pay down additional debt facilities, to fund possible future acquisitions
of properties and for working capital and general corporate purposes.
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