Funds used to purchase properties and for general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 30 - Monmouth Real Estate Investment Corp. said it priced a $16.78 million registered direct offering of stock. The deal was announced Monday.
The company will sell 2 million common shares at $8.39 per share through agent CSCA Capital Advisors, LLC. The price per share reflects a 4.22% discount to the Nov. 29 closing share price of $8.76.
Settlement is expected Dec. 5.
Proceeds will be used to purchase properties and for general corporate purposes.
Monmouth is a real estate investment trust based in Freehold, N.J., with a concentration on net-leased industrial properties.
| Issuer: | Monmouth Real Estate Investment Corp.
|
| Issue: | Common stock
|
| Amount: | $16.78 million
|
| Shares: | 2 million
|
| Price: | $8.39
|
| Warrants: | No
|
| Agent: | CSCA Capital Advisors, LLC
|
| Announcement date: | Nov. 28
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| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Stock symbol: | NYSE: MNR
|
| Stock price: | $8.49 at close Nov. 30
|
| Market capitalization: | $307.29 million
|
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