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Ramco-Gershenson Properties Trust Announces Pricing Of Common Share Offering


Tuesday, 12 Mar 2013 07:02pm EDT 

Ramco-Gershenson Properties Trust announced that it priced an upsized public offering of 7,000,000 newly issued common shares of beneficial interest at a public offering price of $15.55 per share. In connection with the offering, the Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares of beneficial interest. Subject to customary conditions, the offering is expected to close on March 18, 2013. The Company intends to use the net proceeds of the offering to fund a portion of the consideration for the acquisition of 12 shopping centers from its Ramco/Lion LP joint venture, which was announced on March 11, 2013, as well as for general corporate purposes. The offering is not conditioned on the completion of the acquisition. Deutsche Bank Securities is acting as sole book-running manager. 

Company Quote

16.6
-0.21 -1.25%
31 Jul 2014