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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Thursday, February 1, 9:16 AM

Slide #60. Preferred Apartment Communities, Inc. Preferred Stock Offering

Company: Preferred Apartment Communities, Inc. (NYSE:APTS)
Date announced: 5/8/2017
Shares Offered: 2,750,000
Date of Pricing: 5/9/2017
Price Per Share: $15.25
Preferred Stock Offering Details: Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that it has agreed to sell 2,750,000 shares of its common stock in an underwritten public offering. In connection with this offering, PAC has granted the underwriters a 30-day option to purchase an additional 412,500 shares of its common stock. All shares in the offering are being offered by PAC. There can be no assurance as to whether or when the offering may be completed. PAC intends to use the net proceeds from this offering, including net proceeds from any exercise by the underwriters of their option to purchase additional shares of PAC's common stock, to repay outstanding indebtedness under PAC's existing senior secured revolving credit facility, and any remainder for other general corporate purposes, including making investments in accordance with PAC's investment objectives. -updated 5/9- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced the pricing of an underwritten public offering of 2,750,000 shares of its common stock, offered at a price of $15.25 per share to the public. All of the shares in the offering are to be sold by PAC. The offering is expected to close on or about May 12, 2017, subject to the satisfaction of customary closing conditions. PAC has granted the underwriters a 30-day option to purchase up to an aggregate of 412,500 additional shares. PAC intends to use the net proceeds from this offering, including net proceeds from any exercise by the underwriters of their option to purchase additional shares of PAC's common stock, to repay outstanding indebtedness under PAC's existing senior secured revolving credit facility, and any remainder for other general corporate purposes, including making investments in accordance with PAC's investment objectives.

Preferred Apartment Communities is a real estate investment trust. As of Dec 31 2016, Co. operated in four segments: Multifamily Communities, which consisted of its portfolio of owned 24 residential multifamily communities and one student housing community; Real Estate Related Financing, which included its portfolio of real estate loans, bridge loans, and other instruments; New Market Properties, which consisted of its portfolio of 31 grocery-anchored shopping centers; and Office Buildings, which consisted of its portfolio of three office buildings in Atlanta, GA and Birmingham, AL. Co. conducts its business primarily through Preferred Apartment Communities Operating Partnership, L.P.
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Name: Preferred Apartment Communities Inc.
Website: pacapts.com
Sector: REITs
Number of ETFs Holding APTS: 21 (see which ones)
Total Market Value Held by ETFs: $61,164,266
Total Market Capitalization: $604,000,000
% of Market Cap. Held by ETFs: 10.13%

Open the APTS Page at Ru Back Packer (in a new window) »

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