Arbor Realty Trust, Inc. Announces Closing of $75 Million Offering of Additional Shares of 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Rhea-AI Summary

Arbor Realty Trust, Inc. (NYSE: ABR) has successfully closed the public offering of an additional 3,100,000 shares of its 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, raising gross proceeds of $75,020,000. This offering includes a 30-day option for underwriters to purchase an additional 465,000 shares. The funds raised will be directed towards business investments and general corporate purposes. The Series F Preferred Stock shares will trade under the symbol 'ABR PrF' on the NYSE.

Positive

• Raised $75,020,000 in gross proceeds from the offering.
• Strengthens capital structure with additional Series F Preferred Stock issuance.

Negative

• None.

UNIONDALE, N.Y., Feb. 07, 2022 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced today the closing of its public offering of 3,100,000 additional shares of its 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the “Series F Preferred Stock”), liquidation preference $25.00 per share, for gross proceeds of $75,020,000, before deducting underwriting discounts and estimated offering expenses. The Company has granted the underwriter a 30-day option to purchase up to an additional 465,000 shares of the Series F Preferred Stock to cover over-allotments, if any. The additional shares of Series F Preferred Stock constitute an additional issuance of shares of Series F Preferred Stock, with 8,050,000 shares of Series F Preferred Stock previously issued (the “Outstanding Series F Preferred Stock”). The Series F Preferred Stock is treated as a single series with and has the same terms as the Outstanding Series F Preferred Stock. The Outstanding Series F Preferred Stock and the Series F Preferred Stock sold in the offering are listed on the NYSE under the symbol “ABR PrF.”

The Company intends to use the net proceeds to make investments relating to its business and for general corporate purposes.

Raymond James & Associates, Inc. acted as sole book-running manager for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The offering was made pursuant to the Company’s existing effective shelf registration statement, previously filed with the Securities and Exchange Commission. The offering of these securities was made only by means of a prospectus and related prospectus supplement. Copies of the prospectus and accompanying final prospectus supplement relating to these securities may be obtained by contacting Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by telephone at (800) 248-8863, or by email at prospectus@raymondjames.com.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS® lender, Freddie Mac Optigo® Seller/Servicer, and an approved FHA Multifamily Accelerated Processing (MAP) lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and preferred equity loans.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the anticipated use of the net proceeds from the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in economic conditions generally, and the real estate markets specifically, in particular, due to the uncertainties created by the COVID-19 pandemic, continued ability to source new investments, changes in interest rates and/or credit spreads, and other risks detailed in the prospectus supplement relating to the offering and the documents incorporated by reference therein, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its other reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.

Contact:
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
pelenio@arbor.com

FAQ

What is the total amount raised by Arbor Realty Trust in their latest offering?

Arbor Realty Trust raised a total of $75,020,000 in gross proceeds from their latest offering of Series F Preferred Stock.

What is the purpose of the proceeds from Arbor Realty Trust's Series F Preferred Stock offering?

The net proceeds from the offering will be used for investments related to the business and for general corporate purposes.

How many shares were included in Arbor Realty Trust's public offering of Series F Preferred Stock?

The public offering consisted of 3,100,000 additional shares of Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock.

What is the ticker symbol for Arbor Realty Trust's Series F Preferred Stock?

The ticker symbol for Arbor Realty Trust's Series F Preferred Stock is 'ABR PrF' on the NYSE.