Farmland Partners aims to sell 3 million shares in public offering

Deal also includes greenshoe for another 450,000 shares

By Susanna Moon

Chicago, July 14 – Farmland Partners Inc. is planning to sell 3 million common shares in a public offering, according to a prospectus filing with the Securities and Exchange Commission. The deal also includes an over-allotment option for another 450,000 shares.

Robert W. Baird & Co. Inc., Stifel, Nicolaus & Co., Inc., Nomura Securities International, Inc. and Wunderlich Securities, Inc. are the underwriters.

Proceeds will be used to fund future acquisitions of farmland under its investment strategy and for general corporate purposes, including the potential partial repayment of outstanding mortgage debt.

The company’s stock (NYSE: FPI) last closed at $12.25 per share on July 13.

Farmland is an internally managed real estate company based in Denver.

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