Thursday 17th of March 2022 11:02:24 PM
Arbor Realty Trust prices upsized $108.9M stock offering
- Arbor Realty Trust (NYSE:ABR) is down 4.6% after hours after the firm has priced its public offering of 6.5M shares of common stock for total expected gross proceeds of ~$108.9M.
- Offering was upsized from the previously announced offering size of 6M shares.
- Underwriters over-allotment is an additional 975K shares of its common stock.
- Offering is expected to close on March 22, 2022.
- Net proceeds from the offering will be used to make investments relating to its business and for general corporate purposes.