Campus Crest Communities Announces Pricing of 8.0% Series A Cumulative Redeemable Preferred Stock Offering
Campus Crest Communities, Inc. (NYSE: CCG) today announced it has priced an underwritten public offering of 2,000,000 shares of its 8.0% Series A Cumulative Redeemable Preferred Stock at a public offering price of $25.00 per share, for net proceeds of approximately $48.2 million, after deducting the underwriting discount and other estimated offering costs.
The Company also granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of the Series A Preferred Stock to cover overallotments, if any. The offering is expected to close on or about February 9, 2012, subject to customary closing conditions.
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