Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Thu, December 2, 11:45 AM

Slide #532. Sun Communities, Inc. Preferred Stock Offering

Company: Sun Communities, Inc. (NYSE:SUI)
Shares Offered: 3,000,000
Date of Pricing: 11/5/2012
Price Per Share: $25
Preferred Stock Offering Details: Sun Communities, Inc. announced that it has priced an underwritten registered public offering of 3,000,000 shares of its 7.125% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") at $25.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase an additional 450,000 shares of the Series A Preferred Stock on the same terms and conditions. The offering is expected to close on November 14, 2012, subject to the satisfaction or waiver of customary closing conditions. Distributions on the Series A Preferred Stock will be paid quarterly in arrears on or about January 15, April 15, July 15 and October 15 of each year, commencing January 15, 2013, at a rate per annum of 7.125% of the liquidation value of $25.00 per share (equivalent to $1.78125 per share per annum).

Sun Communities is a self-administered and self-managed real estate investment trust. Co. owns, operates and develop manufactured housing (MH) communities and recreational vehicle (RV) resorts throughout the U.S. and Ontario, Canada. An MH community is a residential subdivision designed and improved with sites for the placement of manufactured homes, related improvements, and amenities. Modern MH communities contain improvements similar to other garden style residential developments, including centralized entrances, paved streets, curbs, gutters, and parkways. An RV resort is a resort or park designed and improved with sites for the placement of RVs for varied lengths of time.

Preferred: SUI.PRA

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Sun Communities Inc
Number of ETFs Holding SUI: 
63 (see which ones)
Total Market Value Held by ETFs: 
Total Market Capitalization: 
% of Market Cap. Held by ETFs: 

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Preferred Stock Offerings - Slide 532 of 573 |

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