Arbor Realty Trust, Inc. Announces Pricing of Public Offering of Series E Cumulative Redeemable Preferred Stock
Arbor Realty Trust (NYSE:ABR) has announced the pricing of a public offering of 5,000,000 shares of its 6.25% Series E Cumulative Redeemable Preferred Stock, amounting to gross proceeds of $125 million. This offering, which includes a 30-day option for underwriters to purchase an additional 750,000 shares, is set to close on August 11, 2021. The funds will be utilized for business investments and general corporate purposes. Raymond James & Associates is the sole book-running manager for the offering.
- Gross proceeds of $125 million expected from the offering.
- Intends to use funds for business investments and corporate purposes.
- Potential dilution of existing shares due to the issuance of new preferred stock.
UNIONDALE, N.Y., Aug. 04, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced today that it has priced the public offering of 5,000,000 shares of its
The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.
Raymond James & Associates, Inc. is acting 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 is being made pursuant to the Company’s existing effective shelf registration statement, previously filed with the Securities and Exchange Commission. The offering of these securities is being made only by means of a prospectus and related prospectus supplement. When available, 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 and 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 completion of the proposed offering and the anticipated gross proceeds and 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, risks and uncertainties related to the completion of the offering on the anticipated terms or at all, market conditions, the satisfaction of customary closing conditions related to the offering, 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: | Investors: |
| Arbor Realty Trust, Inc. | The Ruth Group |
| Paul Elenio, Chief Financial Officer | Daniel Kontoh-Boateng |
| 516-506-4422 | 646-536-7019 |
| pelenio@arbor.com | dboateng@theruthgroup.com |
FAQ
What is Arbor Realty Trust's recent stock offering?
When will the Arbor Realty Trust offering close?
What will Arbor Realty Trust do with the proceeds from the offering?
Is there an option for underwriters in Arbor Realty Trust's offering?
What are the risks associated with the Arbor Realty Trust offering?
