Arbor Realty Trust, Inc. (ABR), a Maryland-based real estate investment trust, Friday priced its public offering of 3.5 million common shares at $5.80 per share. The company said it intended to use the proceeds from the offering to make investments and repurchase or pay liabilities.
In addition, the company added that it had granted underwriters a 30 day option to purchase an additional 525 thousand shares.
For the offering, Deutsche Bank Securities Inc. is serving as the the sole book-running manager, while JMP Securities LLC is serving as the lead manager, said Arbor Realty.
The stock is currently trading at $38.15, up $1.09 or 2.94 percent on the NYSE.
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