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Campus Crest Communities Inc Announces Exercise Of Underwriters’ Option And Subsequent Closing Of Common Stock Offering

Wednesday, 6 Mar 2013 07:22am EST 

Campus Crest Communities Inc announced it closed its previously announced underwritten public offering of 25,530,000 shares of its common stock, including 3,330,000 shares issued and sold pursuant to the full exercise of the underwriters` option to purchase additional shares. The shares were issued at a public offering price of $12.25 per share, for net proceeds of approximately $299.9 million, after deducting the underwriting discount and other net estimated offering costs. CCG intends to use the net proceeds from this offering to fund the investment in the Copper Beech Townhome Communities` portfolio and related transactional costs. Any remaining net proceeds will be used for general corporate purposes, including the repayment of debt. Raymond James, Barclays, Citigroup, BofA Merrill Lynch and RBC Capital Markets served as joint book-running managers for the offering. Baird and MLV & Co served as co-managers for the offering. 

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0.06 +0.66%
23 Jul 2014