Ladenburg Thalmann, William Blair, JMP, Compass Point are bookrunners
By Devika Patel
Knoxville, Tenn., Aug. 13 - Independence Realty Trust, Inc. said it priced its $34 million initial public offering of stock with a $5.1 million greenshoe. The deal was announced July 29.
The company will sell 4 million common shares at $8.50 per share.
Ladenburg Thalmann & Co. Inc., William Blair, JMP Securities and Compass Point are the joint bookrunning managers.
Settlement is expected Aug. 16.
Proceeds will be used to acquire additional properties, redeem all outstanding preferred securities and for general corporate purposes.
The umbrella partnership real estate investment trust is based in Philadelphia. Its shares are expected to trade on the NYSE exchange under the symbol "IRT."
| Issuer: | Independence Realty Trust, Inc.
|
| Issue: | Common stock
|
| Amount: | $34 million
|
| Greenshoe: | $5.1 million
|
| Shares: | 4 million
|
| Price: | $8.50
|
| Warrants: | No
|
| Bookrunners: | Ladenburg Thalmann & Co. Inc., William Blair, JMP Securities and Compass Point
|
| Co-managers: | Aegis Capital Corp, Drexel Hamilton, MLV & Co. LLC, National Securities Corp. and C&Co/PrinceRidge
|
| Announcement date: | July 29
|
| Pricing date: | Aug. 13
|
| Settlement date: | Aug. 16
|
| Stock exchange: | NYSE: IRT
|
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