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Underwriters fully exercise overallotment option in CatchMark offering
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Timber real estate investment trust CatchMark Timber Trust Inc. said underwriters in its 5.0 million-share common stock offering fully exercised their option to acquire an additional 750,000 shares of class A common stock at $12.60 apiece.
The exercise of the overallotment option raised the gross proceeds from the offering to roughly $72.5 million.
Raymond James, Citigroup, Stifel and RBC Capital Markets acted as joint book-running managers for the offering.