Deal sells 15.1 million shares, 21.7 series D convertible preferreds
By Devika Patel
Knoxville, Tenn., Nov. 15 - American Realty Capital Properties, Inc. settled a $474 million private placement of stock and 5.81% series D convertible preferred stock on Nov. 12, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold about 15.1 million common shares and about 21.7 preferreds.
The placement was conducted in connection with the company's acquisition of CapLease, Inc.
American Realty, based in New York, is a real estate investment company.
| Issuer: | American Realty Capital Properties, Inc.
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| Issue: | Common stock, series D convertible preferred stock
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| Amount: | $474 million
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| Warrants: | No
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| Settlement date: | Nov. 12
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| Stock symbol: | Nasdaq: ARCP
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| Stock price: | $12.76 at close Nov. 11
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| Market capitalization: | $2.45 billion
|
|
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| Common stock
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| Shares: | 15.1 million (approximate)
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| Price: | $6.40, $6.25
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| Preferreds
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| Preferreds: | 21.7 (approximate)
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| Dividend: | 5.81%
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