Baird, Stifel are bookrunners; BMO, FBR, Janney Montgomery, MUFG assist
By Devika Patel
Knoxville, Tenn., July 24 – Farmland Partners Inc. said it priced a $46.47 million public sale of stock with a $6.97 million greenshoe. The offering was announced July 2.
The company will sell 3,717,472 common shares at $12.50 per share. The price per share reflects a 4.21% discount to the July 23 closing share price of $13.05.
Baird and Stifel are the joint bookrunning managers.
Settlement is expected July 30.
Proceeds will be used for acquisitions and general corporate purposes, including working capital.
The company is a real estate investment trust based in Denver that owns and acquires row crop farmland.
| Issuer: | Farmland Partners Inc.
|
| Issue: | Common stock
|
| Amount: | $46,468,400
|
| Greenshoe: | $6,970,250
|
| Shares: | 3,717,472
|
| Price: | $12.50
|
| Warrants: | No
|
| Bookrunners: | Baird and Stifel
|
| Co-lead managers: | BMO Capital Markets, FBR, Janney Montgomery Scott and MUFG
|
| Announcement date: | July 2
|
| Pricing date: | July 24
|
| Settlement date: | July 30
|
| Stock symbol: | NYSE: FPI
|
| Stock price: | $13.05 at close July 23
|
| Market capitalization: | $50.82 million
|
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