Independence Realty Trust, Inc. Announces Exercise and Closing of Underwriters’ Option to Purchase Additional Shares
October 24 2016 - 8:45AM
Business Wire
Independence Realty Trust, Inc. (NYSE MKT: IRT) (the "Company")
today announced that the underwriters for its previously announced
public offering of 25,000,000 shares of common stock exercised in
full their option to purchase up to 3,750,000 additional shares of
common stock. As a result of this exercise, the Company received an
additional $32.1 million in net proceeds. In the aggregate, the
Company received approximately $245.8 million of net proceeds from
this offering, before offering expenses and after underwriting
discounts and commissions. The closing of this additional sale
occurred on October 21, 2016.
About Independence Realty Trust, Inc.
Independence Realty Trust, Inc. is a real estate investment
trust that seeks to own well-located apartment properties in
geographic submarkets that it believes support strong occupancy and
the potential for growth in rental rates. The Company seeks to
provide stockholders with attractive risk-adjusted returns, with an
emphasis on distributions and capital appreciation. The Company is
externally advised by a wholly-owned subsidiary of RAIT Financial
Trust (NYSE: RAS).
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version on businesswire.com: http://www.businesswire.com/news/home/20161024005717/en/
Independence Realty Trust, Inc.Andres Viroslav,
215-207-2100aviroslav@irtreit.com
Independence Realty (NYSE:IRT)
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