Glimcher Realty Trust (GRT: Quote) announced the pricing of 20 million common shares at a price of $9.90 per share pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
The company said it has granted the underwriters a 30-day option to purchase up to an additional 3 million common shares.
Glimcher Realty Trust plans to use the net proceeds from the offering to fund the acquisition of the 80% indirect ownership interest in Pearlridge Center in Honolulu, Hawaii held by affiliates of Blackstone Real Estate Partners VI or for other general corporate purposes, which may include the payment of a portion of the balance outstanding on our credit facility.
by RTT Staff Writer
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