Arbor Realty down after pricing $112 mln stock deal

ABR Holdings

15/06/2021 10:57

** Arbor Realty Trust  ABR.N  shares down ~2.5% premarket
after follow-on prices
    ** Residential/commercial mortgage REIT sells 6 mln shares,
raises ~$111.9 mln for general corp purposes  urn:newsml:reuters.com:*:nGNX423lMX
    ** Offering prices at $18.65, 4% discount to stock's last
sale
    ** Co also to use portion of net proceeds to purchase 600k
shares from its CEO and other execs
    ** ABR has ~133 mln shares outstanding for ~$2.6 bln market
cap, per Refinitiv
    ** JP Morgan, JMP Securities and Raymond James leading the
offering
    ** Co last raised ~$110 mln of equity in Mar follow-on
priced at $15.65  urn:newsml:reuters.com:*:nL1N2LO0JC
    ** ABR shares up 37% in 2021 and have doubled over the past
year

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))