PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:31 PM
| This Slide: #324 of 609 |
Slide #324. American Homes 4 Rent — Preferred Stock Offering
Company:
American Homes 4 Rent (NYSE:AMH)
Date announced:
5/16/2016
Shares Offered:
9,000,000
Date of Pricing:
5/17/2016
Price Per Share:
$25.00
Preferred Stock Offering Details:
American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that the Company has commenced an underwritten public offering of its Series D Preferred Shares. In addition, the Company will grant the underwriters a 30-day option to purchase up to an additional 15% of the Series D Preferred Shares at the public offering price solely to cover over-allotments, if any. The Company intends to apply to list the Series D Preferred Shares on the New York Stock Exchange under the symbol "AMHPRD." -updated 5/17- American Homes 4 Rent (NYSE: AMH) (the "Company") today announced the pricing of its underwritten public offering of 9,000,000 of its 6.5% Series D Preferred Shares raising gross proceeds of approximately $225 million, before deducting underwriting discounts and commissions and estimated offering expenses. The Series D Preferred Shares have an initial liquidation preference of $25 per share. The offering is expected to close on May 24, 2016, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 Series D Preferred Shares at the public offering price solely to cover over-allotments, if any. The Company intends to apply to list the Series D Preferred Shares on the New York Stock Exchange under the symbol "AMHPRD." If the application is approved, the Company expects trading to commence 30 days after initial delivery of the Series D Preferred Shares.
American Homes 4 Rent is a real estate investment trust. Co. is focused on acquiring, developing, renovating, leasing and operating single-family homes as rental properties. American Homes 4 Rent, L.P. and its consolidated subsidiaries are the entities through which Co. conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its assets. Co. owns various single-family properties in selected sub-markets of metropolitan statistical areas in various states. Co.'s portfolio of single-family properties, including those held in its unconsolidated joint ventures, is internally managed through its proprietary property management platform.
Preferreds: AMH.PRA, AMH.PRB, AMH.PRC, AMH.PRD, AMH.PRE, AMH.PRF, AMH.PRG, AMH.PRH
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Avg. Broker Rec.
 
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Buy (3.07 out of 4) 39th percentile
(ranked lower than approx. 61% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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