Amrep Corp Completes Rights Offering for 1,199,242 Shares of Common Stock at $6.25 Per Share

Amrep Corp announced that it has completed its rights offering, which closed at New York City time on June 27, 2013. The rights offering allowed existing shareholders of the Company to purchase an aggregate of 1,199,242 shares of the Company's common stock at $6.25 per share. Rights were issued to shareholders of record as of May 31, 2013. Preliminary results indicate that the rights offering was fully subscribed and raised gross proceeds of approximately $7.5 million. The rights offering is expected to result in the issuance of 1,199,242 shares of the Company's common stock and, following such issuance, the Company expects to have 7,195,454 shares of common stock outstanding.