Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, November 14, 5:59 AM
Slide #372. 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 an internally managed Maryland real estate investment trust (REIT). Co.'s primary objective is to generate risk-adjusted returns for its shareholders through dividends and capital appreciation by acquiring, developing, renovating, leasing and managing single-family homes as rental properties. It owns 59,332 single-family properties in select submarkets of metropolitan statistical areas in 21 states. Co. is also focused on developing built-for-rental homes through its internal AMH Development Program. In addition, it also acquires newly constructed homes from third-party developers through its National Builder Program.
Preferreds: AMH.PRA, AMH.PRB, AMH.PRC, AMH.PRD, AMH.PRE, AMH.PRF, AMH.PRG, AMH.PRH
Open the AMH Page at Preferred Stock Channel »
Open the AMH Page at Preferred Stock Channel (in a new window) »
Free AMH Email Alerts:
