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CatchMark Timber launches offering of 4.5 million common shares

CatchMark Timber Trust Inc. is selling 4.5 million shares of its class A common stock in an underwritten public offering.

The timber real estate investment trust expects to grant a 30-day option to the underwriters to acquire up to 675,000 additional shares.

Based on the company's March 13 closing stock price of $13.61 per share, gross proceeds, including the additional-share option, are expected to total approximately $70.4 million.

Raymond James, Citigroup, Stifel and RBC Capital Markets are the joint book-running managers.