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.