Investors Real Estate Trust (IRET) said Friday that it has completed an underwritten public offering of about 6.01 million common shares of beneficial interest, no par value per share, including 263,300 shares issued pursuant to the underwriters' over-allotment option, at a public offering price of $9.25 per share, for net proceeds of about $53.0 million, after deducting the underwriting discount and other estimated offering-related costs.
The company plans to contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, which may include acquiring, developing, renovating, expanding or improving land and income-producing real estate properties in accordance with the Company's investment strategy and reducing its debt.
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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.