Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:16 AM
|This Slide: #136 of 573|
Slide #136. American Homes 4 Rent — Preferred Stock Offering
American Homes 4 Rent (NYSE:AMH)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that it has priced an underwritten public offering of 4,000,000 of its 6.25% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") raising gross proceeds of approximately $100 million, before deducting underwriting discounts and commissions and estimated offering expenses. The Series H Preferred Shares have an initial liquidation preference of $25 per share. The offering is expected to close on September 19, 2018, subject to customary closing conditions. The Company has also granted to the underwriters a 30-day option to purchase up to an additional 600,000 Series H Preferred Shares at the public offering price, less the underwriting discount. The Company intends to apply to list the Series H Preferred Shares on the New York Stock Exchange under the symbol "AMHPRH." If the application is approved, the Company expects trading to commence within 30 days after initial delivery of the Series H Preferred Shares.
American Homes 4 Rent is a real estate investment trust focused on acquiring, developing, renovating, leasing and operating single-family homes as rental properties. American Homes 4 Rent, L.P. and its consolidated subsidiaries is the entity through which Co. conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its assets. Co.'s portfolio of single-family properties is internally managed through its proprietary property management platform.
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Buy (3.31 out of 4)
(ranked lower than approx. 60% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com