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By Preferred Stock Channel Staff, updated Thursday, July 17, 5:11 PM
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Free ABR Email Alerts:
Preferred Stock Offerings
| This Slide: #101 of 645 |
Slide #101. 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, Inc. is a real estate investment trust. Co.'s segments include Structured Business and Agency Business. Through its Structured Business, it invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental (SFR) and commercial real estate markets, primarily consisting of bridge loans, in addition to mezzanine loans, junior participating interests in first mortgages and preferred and direct equity. It also invests in real estate-related joint ventures and may directly acquire real property and invest in real estate-related notes and certain mortgage-related securities.
Preferreds: ABR.PRA, ABR.PRB, ABR.PRC, ABR.PRD, ABR.PRE, ABR.PRF
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