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Arbor Realty Trust closes common stock offering

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Arbor Realty Trust closes common stock offering

Arbor Realty Trust Inc. on May 18 completed the issuance and sale of 5.5 million of its common shares.

The underwriter agreed to purchase the shares from the company at a price of $8.72 per share, resulting in around $47.8 million of total net proceeds.

The company also granted the underwriters an option to buy up to an additional 825,000 common shares.

JMP Securities is the sole book-running manager for the offering.