Associated Estates Realty Corp. (AEC) Friday said it completed the sale of 5.17 million common shares at a price of $11.10 per share, representing 4.50 million of its common shares sold pursuant to its previously announced public offering and an additional 675,000 common shares that the underwriters elected to purchase pursuant to their over-allotment option in connection with the public offering. The net proceeds of the sale were approximately $54.7 million after deducting underwriting discounts, commissions and offering expenses.
Associated Estates plans to use the net proceeds received from the offering to repay borrowings under its unsecured revolving credit facility, to repay other indebtedness and for general corporate purposes.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.