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Arbor Realty Trust to offer common shares


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Arbor Realty Trust to offer common shares

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.