trending Market Intelligence /marketintelligence/en/news-insights/trending/QhqmKZ9iLLHWUv51Hm8Usg2 content esgSubNav
In This List

American Finance Trust prices preferred stock offering


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

American Finance Trust prices preferred stock offering

American Finance Trust Inc. priced its underwritten public offering of 1.2 million shares of 7.50% series A cumulative redeemable perpetual preferred stock at a gross offering price of $25.00 apiece. Net proceeds from the offering are expected to total about $29.1 million.

The diversified real estate investment trust granted underwriters a 30-day option to buy up to 180,000 additional shares. Net proceeds will go toward general corporate purposes, including possible property acquisitions.

The transaction is slated to close on or around March 26.

BMO Capital Markets Corp. and Stifel Nicolaus & Co. Inc. are serving as joint book-running managers for the offering, with B. Riley FBR Inc. acting as the lead manager. Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., William Blair & Co. LLC and Boenning & Scattergood Inc. are the co-managers.