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Ramco-Gershenson Properties Trust Announces Closing of Common Share Offering

Monday, 18 Mar 2013 05:00pm EDT 

Ramco-Gershenson Properties Trust announced the closing of its underwritten public offering of 8,050,000 newly issued common shares of beneficial interest priced at $15.55 per share, which included 1,050,000 common shares issued pursuant to the exercise of the underwriter's option. Ramco-Gershenson received approximately $122,103,000 in net proceeds from the offering after deducting the underwriting discount and other estimated offering expenses payable by the Company. 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. Deutsche Bank Securities acted as sole book-running manager for the transaction. 

Company Quote

-0.03 -0.18%
17 Apr 2014