Cedar Shopping Centers $70 Million Additional Offering

Cedar Shopping Centers, Inc. (NYSE: CDR) today announced that it has priced an underwritten public offering of an additional 2,850,000 shares of its 8 7/8% Series A Cumulative Redeemable Preferred Stock, pursuant to a shelf registration, at $24.50 per share. Closing of the offering is scheduled for August 25, 2010. A final prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. The preferred shares have a liquidation preference of $25 per share and are redeemable at par at the option of the Company. Net proceeds to the Company of the offering are estimated at $67.1 million. The Company intends to use the net proceeds from the offering to reduce amounts outstanding under its secured revolving stabilized property credit facility.Get free trades at tradeMONSTER!