logo
Share SHARE
FONT-SIZE Plus   Neg

Silver Bay Realty Prices IPO At $18.50/Shr

Silver Bay Realty Trust Corp. (SBY) Friday priced its initial public offering of 13.25 million shares of common stock at a price of $18.50 per share. The shares are expected to begin trading on the NYSE on Friday.

The underwriters have been granted a 30-day option to purchase up to an additional approximately 1.98 million shares of common stock to cover over-allotments, if any.

Silver Bay is also planning to acquire an initial portfolio of more than 3 thousand single-family residential properties, in exchange for equity interests in Silver Bay or its operating subsidiary, or cash.

The acquisition will be carried out through entities associated with Two Harbors Investment Corp. (TWO), and Provident Real Estate Advisors LLC.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swedish music streaming app Spotify says that Apple has rejected an update of its iOS app. One of the top marketing executives of Chipotle Mexican Grill Inc., Mark Crumpacker, was put on administrative leave after he was indicted as part of a cocaine drug ring bust in New York. Crumpacker, Chipotle's chief creative and development officer, is reportedly one of the eighteen alleged buyers of cocaine indicted in the drug ring. Dell Inc. decided to end its Venue brand Android tablets and will focus on Windows 10 2-in-1 devices. There will be no operating system upgrades for Venue, however it will continue active warranty and service contract.
comments powered by Disqus
Follow RTT