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American Finance Trust launches preferred stock offering

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American Finance Trust launches preferred stock offering

Diversified real estate investment trust American Finance Trust Inc. launched an underwritten public offering of its series A cumulative redeemable perpetual preferred stock.

Underwriters are expected to be granted a 30-day option to acquire additional shares.

Net proceeds are marked for general corporate purposes, including the possible acquisition of properties.

BMO Capital Markets Corp. and Stifel Nicolaus & Co. Inc. are serving as joint book-running managers for the offering, and FBR Capital Markets & Co. is the lead manager. Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., William Blair & Co. LLC and Boenning & Scattergood Inc. are the co-managers.