Urstadt BiddleProperties Inc. priced its public of 2,750,000 shares of class Acommon stock at $23.70 per share.
Including an underwriter's 412,500-share overallotmentoption, the offering represents gross proceeds of $75.0 million. Settlement isexpected to occur on or about July 26.
The company intends to use the net proceeds to fully repayborrowings under its existing credit facility, including those incurred as partof its acquisition of the Newfield Green Shopping Center in Stamford, Conn.
Deutsche Bank Securities Inc. is the sole book-runningmanager for the offering.