RiverBanc to price IPO of 3.8 million shares at $19.00 to $20.00

Bookrunners Baird, Keefe, Bruyette, SunTrust Robinson assist with deal

By Devika Patel

Knoxville, Tenn., July 22 – RiverBanc Multifamily Investors, Inc. will sell 3.8 million common shares in its initial public offering with a 30-day greenshoe of 570,000 additional shares, according to a Form S-11/A filed Wednesday with the Securities and Exchange Commission. The company has registered up to $87.4 million of stock for the deal, which was announced on June 17.

The shares will be sold at a price expected to fall between $19.00 and $20.00 per share.

Robert W. Baird & Co., Inc., Keefe, Bruyette & Woods, Inc. and SunTrust Robinson Humphrey Inc. are the bookrunners; Nomura and Oppenheimer & Co. are the lead managers and J.J.B. Hilliard, W.L. Lyons, LLC is the co-manager.

Proceeds will be used to acquire the NYMT Contributed Assets.

The real estate investment trust is based in Charlotte, N.C. The company expects its shares will trade on the Nasdaq under the symbol “RMI.”

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