Deal sells 2,055,215 common shares at $8.15 each to MB Equity, 2335887
By Devika Patel
Knoxville, Tenn., July 8 - Landmark Apartment Trust of America, Inc. concluded a $16.75 million private placement of stock with MB Equity Holdings, Inc. and 2335887 LP on July 1, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 2,055,215 common shares at $8.15 apiece. MB Equity invested $1.75 million, and 2335887 invested $15 million.
Proceeds will be used to finance the company's planned acquisition of a portfolio of seven multifamily apartment communities.
Landmark is a Richmond, Va.-based private owner of apartment communities.
| Issuer: | Landmark Apartment Trust of America, Inc.
|
| Issue: | Common stock
|
| Amount: | $16.75 million
|
| Shares: | 2,055,215
|
| Price: | $8.15
|
| Warrants: | No
|
| Investor: | MB Equity Holdings, Inc. (for $1.75 million) and 2335887 LP (for $15 million)
|
| Settlement date: | July 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
