Cedar Realty Trust Inc. is selling an undisclosed amount of shares of its 6.50% series C cumulative redeemable preferred stock in an underwritten public offering.
The company expects to grant a 30-day option to the underwriters to acquire up to an additional 15% of the shares on offer.
Cedar Realty plans to use the net proceeds mainly to partially redeem its 7.25% series B cumulative redeemable preferred stock.
Raymond James & Associates Inc. and KeyBanc Capital Markets Inc. will be the joint book-running managers for the offering.
