Associated Estates Realty Corp. (AEC) said Thursday that it plans to sell 5.5 million of its common shares in an underwritten public offering.
The company also plans to grant the underwriters a 30-day option to purchase up to an additional 825,000 of its common shares.
The company said it plans to use the net proceeds received from the offering to fund property acquisitions and development and for general corporate purposes. Pending application for the foregoing purposes, the company plans to use the net proceeds to temporarily repay borrowings outstanding under its unsecured revolving credit facility.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.