Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tue, April 23, 3:20 AM
This Slide: #76 of 620 |
Slide #76. Arbor Realty Trust, Inc. — Preferred Stock Offering
Company:
Arbor Realty Trust, Inc. (NYSE:ABR)
Date announced:
5/25/2021
Shares Offered:
8,000,000
Date of Pricing:
5/25/2021
Price Per Share:
$25.00
Preferred Stock Offering Details:
Arbor Realty Trust, Inc. (the "Company") (NYSE: ABR) announced today that it plans to make a public offering of an initial issuance of its Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock"). In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of Series D Preferred Stock to cover over-allotments, if any. The Company intends to file an application to list the Series D Preferred Stock on the NYSE under the symbol "ABR PrD" and, if approved, expects trading to commence within 30 days after the initial issuance of the Series D Preferred Stock. -updated 5/25- Arbor Realty Trust, Inc. (the "Company") (NYSE:ABR) announced today that it has priced the public offering of 8,000,000 shares of its 6.375% Series D Cumulative Redeemable Preferred Stock (the "Series D Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $200 million, before deducting underwriting discounts and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 shares of the Series D Preferred Stock to cover over-allotments, if any. The offering is expected to close on June 2, 2021.
Arbor Realty Trust is a real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other commercial real estate assets. Co.'s segments are: Structured Loan Origination and Investment Business, in which it invests in a portfolio of structured finance assets in the multifamily, single-family rental and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages and preferred and direct equity; and Agency Loan Origination and Servicing Business, in which it originates, sells and services a range of multifamily finance products.
Preferreds: ABR.PRA, ABR.PRB, ABR.PRC, ABR.PRD, ABR.PRE, ABR.PRF
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Hold (1.83 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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