Campus Crest Communities, Inc. CCG (“CCG”) today announced it closed
its previously announced underwritten public offering of 25,530,000 shares of
its common stock, including 3,330,000 shares issued and sold pursuant to the
full exercise of the underwriters' option to purchase additional shares. The
shares were issued at a public offering price of $12.25 per share, for net
proceeds of approximately $299.9 million, after deducting the underwriting
discount and other net estimated offering costs.
CCG intends to use the net proceeds from this offering to fund the investment
in the Copper Beech Townhome Communities' portfolio and related transactional
costs. Any remaining net proceeds will be used for general corporate purposes,
including the repayment of debt. Raymond James, Barclays, Citigroup, BofA
Merrill Lynch and RBC Capital Markets served as joint book-running managers
for the offering. Baird and MLV & Co served as co-managers for the offering.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in