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American Realty Capital Properties Inc Announces Underwriters Full Exercise of Over-Allotment Option

Friday, 25 Jan 2013 05:16pm EST 

American Realty Capital Properties Inc announced that the underwriters on its 1,800,000 share public offering that priced on January 24, 2013, have fully exercised their option to purchase an additional 270,000 newly issued shares of ARCP common stock, par value $0.01 per share, at a price of $13.47 per share (before underwriting discounts and commissions). The offering is expected to close on or about January 29, 2013. As a result, the Company will issue a total of 2,070,000 shares in the offering and expects to receive total net proceeds of approximately $26.5 million, after deducting underwriting discounts, commissions and estimated expenses. The Company intends to use the proceeds from the offering to purchase pipeline properties and for other general corporate purposes. The Company's underwriting syndicate for this offering was led by Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., who served as sole bookrunning manager. Aegis Capital Corp., Maxim Group LLC and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc., served as co-managers of the offering.