Arbor Realty (ABR) Announces 3.5M Common Offering
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Arbor Realty Trust, Inc. (NYSE: ABR) announced today that it has commenced a public offering of 3,500,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional 525,000 shares of common stock to cover over-allotments. Deutsche Bank Securities Inc. will serve as the sole book-running manager for the offering. JMP Securities LLC will serve as the lead manager for the offering. The Company intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities and for general corporate purposes.
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