PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wed, May 8, 2:46 PM
| This Slide: #620 of 620 |
Slide #620. Investors Real Estate Trust — Preferred Stock Offering
Company:
Investors Real Estate Trust (NYSE:IRET)
Underwriters:
Robert W. Baird & Co. Incorporated, RBC Capital Markets, LLC
Security type:
Series B Preferred Shares (IRET.PRB)
Shares Offered:
4,000,000
Date of Pricing:
7/31/2012
Price Per Share:
$25.00
Closed Date:
8/7/2012
Date of Over-Allotment Closing:
8/7/2012
Final Completed Deal Size:
4,600,000
Preferred Stock Offering Details:
Investors Real Estate Trust announced the full exercise of the underwriters' over-allotment option and the sale of an additional 600,000 shares of the Company's 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (Liquidation Preference $25 per Share), no par value per share (the "Series B Preferred Shares"). The over-allotment option was granted in connection with the Company's underwritten public offering of 4,000,000 Series B Preferred Shares, which priced on July 31, 2012 (the "Series B Offering"). The Company also announced the closing today on the Series B Offering of 4,600,000 Series B Preferred Shares, including 600,000 Series B Preferred Shares pursuant to the full exercise of the underwriters' over-allotment option, at a public offering price of $25.00 per share. Total net proceeds, after deducting the underwriting discount and estimated offering-related costs payable by the Company, were approximately $111.2 million.
Learn more about the IRET $20.40 ETF at ETF Channel.
Preferreds: IRETP, IRET.PRB, IRET.PR, IRET.PRC
Open the IRET Page at Preferred Stock Channel »Open the IRET.PRB Page at Preferred Stock Channel for More Information About this Preferred »
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