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Aviv REIT Inc Announces Closing Of Initial Public Offering Of Common Stock And Exercise Of Overallotment Option


Tuesday, 26 Mar 2013 12:56pm EDT 

Aviv REIT Inc announced the closing of its previously announced initial public offering of 13,200,000 shares of common stock at a public offering price of $20.00 per share. Further, the underwriters of the offering exercised their overallotment option in full and purchased an additional 1,980,000 shares of common stock. Including the overallotment option, Aviv sold 15,180,000 shares in the offering and received net proceeds of approximately $278.8 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay certain indebtedness and to use the remainder for general corporate purposes, including the potential acquisition of additional properties in the ordinary course of business. Morgan Stanley, BofA Merrill Lynch and Goldman, Sachs & Co. acted as joint book-running managers of the offering, and Citigroup, RBC Capital Markets, SunTrust Robinson Humphrey, RBS and CSCA acted as co-managers. The offering was made only by means of a prospectus. 

Company Quote

28.85
-0.4 -1.37%
25 Jul 2014