Arbor Realty Trust Inc. (ABR) announced that it has successfully priced its public offering of about 5.62 million shares of common stock at a public offering price per share of $8.00.
The company said it has also granted the underwriters a 30-day option to purchase up to an additional 843,750 shares of its common stock on the same terms and conditions. Deutsche Bank Securities Inc. is the sole book-running manager for the offering. JMP Securities LLC is the lead manager for the offering.
The company noted that it intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities and for general corporate purposes.
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