Arbor Realty Trust Inc. intends to commence a public offering of 5.5 million common shares.
The company plans to grant the underwriter a 30-day option to purchase up to an additional 825,000 shares.
Based on a May 15 closing share price of $9.33 and assuming full exercise of the underwriters option, S&P Global Market Intelligence calculates a gross offering size of about $59.0 million.
The company intends to use the net proceeds to make business-related investments and for general corporate purposes.
JMP Securities is acting as the sole book-running manager for the offering.
