Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Silver Bay Realty Prices IPO At $18.50/Shr

RELATED NEWS
Trade SBY now with 

Silver Bay Realty Trust Corp. (SBY: Quote) 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.

Click here to receive FREE breaking news email alerts for Silver Bay Realty Trust Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Before heading to New York for meetings with other world leaders at the United Nations, President Barack Obama delivered a statement on Tuesday regarding U.S. airstrikes in Syria. Obama highlighted the fact that the U.S. was joined in the attack by Saudi Arabia, the United Arab Emirates, Jordan, Bahrain, and Qatar. After recovering from an initial move to the downside, stocks have shown a lack of direction over the course of the trading day on Tuesday. The choppy trading comes on the heels of the notable pullback seen in the previous session. With lawmakers failing to address corporate tax reform before adjourning for the campaign season, the Treasury Department announced Monday that it is taking targeted action to reduce the tax benefits of corporate tax inversions.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.