Arbor Realty Trust Prices Public Offering Of 6.50 Mln Shares For Expected Proceeds Of $108.9 Mln

(RTTNews) - Arbor Realty Trust Inc. (ABR) said that it priced its public offering of 6.50 million shares of common stock for total expected gross proceeds of about $108.9 million before underwriting discounts and commissions and expenses.

The offering was upsized from the previously announced offering size of 6 million shares.

The company has also granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of its common stock. The offering is subject to customary closing conditions and is expected to close on March 22, 2022.

The company plans to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes.