Campus Crest Communities Inc. (CCG) announced it has priced underwritten public offering of 22.2 million common shares at $12.25 per share. The company expects to close the offering on or about March 6, 2013.
The company expects offering net proceeds of about $260.8 million, after deducting the underwriting discount and other net estimated offering costs.
CCG also granted the underwriters of the offering a 30-day option to purchase up to an additional 3.33 million common shares.
CCG intends to use offering net proceeds to fund investment in the Copper Beech Townhome Communities' portfolio and related transactional costs and the remaining net proceeds for general corporate purposes.
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