Arbor Realty Trust Offers 3.5M Shares at $5.80
Arbor Realty Trust, Inc. (the "Company") (NYSE: ABR), announced today that it has successfully priced its public offering of 3,500,000 shares of common stock at a public offering price per share of $5.80. The Company has also granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of its common stock on the same terms and conditions, solely to cover over-allotments, if any. Deutsche Bank Securities Inc. is the sole book-running manager for the offering. JMP Securities LLC is the lead manager for the offering. The Company intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities and for general corporate purposes.
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