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By Ru Back Packer Staff, updated Thursday, February 1, 2:28 AM

Slide #411. Glimcher Realty Trust Preferred Stock Offering

Company: Glimcher Realty Trust (GRT)
Underwriters: Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated
Security type: 7.50% Series H Cumulative Redeemable Preferred Shares (GRT.PRH)
Shares Offered: 3,600,000
Price Per Share: $25.00
Closed Date: 8/10/2012
Date of Over-Allotment Closing: 8/10/2012
Final Completed Deal Size: 4,000,000.00
Preferred Stock Offering Details: Glimcher Realty Trust closed the underwritten public offering of 4,000,000 of its 7.50% Series H Cumulative Redeemable Preferred Shares with a liquidation preference of $25.00 per share, including 400,000 Series H Preferred Shares sold pursuant to the underwriters' exercise of their overallotment option to purchase additional Series H Preferred Shares. The offering generated net proceeds to the Company of approximately $96.4 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company.

Glimcher Realty Trust is a self-administered and self-managed real estate investment trust. Co. owns, leases, manages and develops a portfolio of retail properties (Properties). The Properties consist of open-air centers, enclosed regional malls, outlet centers and community shopping centers. As of Dec 31 2013, Co. owned material interests in and managed 28 Properties which are located in 15 states. The properties contain contain an aggregate of approx. 19,300,000 sq. ft. of gross leasable area. Co., by and through its affiliates, holds service marks for the term GLIMCHER® and certain of its Property names such as Scottsdale Quarter®, and Polaris Fashion Place®.

Preferreds: GRT.PRF.CL, GRT.PRG, GRT.PRH, GRT.PRI


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Name: Glimcher Realty Trust
Website: glimcher.com
Sector: REITs

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