Published:
Investors Real Estate Trust Announces Pricing of Offering of 6,000,000 Common Shares of Beneficial Interest
Investors Real Estate Trust (NASDAQ: IRETS), a
real estate investment trust with a diversified portfolio of multi-family
residential and commercial office, medical, industrial and retail
properties located primarily in the upper Midwest, today announced the
pricing of its public offering of 6,000,000 common shares of beneficial
interest at $10.20 per share (before underwriting discounts and
commissions). The Company has granted the underwriters an option to acquire
up to an additional 900,000 common shares of beneficial interest at the
public offering price to cover over-allotments, if any. Total net proceeds
to the Company will be approximately $57.6 million, or approximately $66.3
million if the underwriters exercise their over-allotment option in full,
after deducting underwriting discounts and commissions and estimated
offering expenses.
Robert W. Baird & Co., Incorporated is the bookrunning manager for the
offering. D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, Inc. are
co-managers.
A registration statement relating to these securities was filed with and
declared effective by the Securities and Exchange Commission. The offering
is being made only by means of a prospectus and related prospectus
supplement, copies of which may be obtained from:
Robert W. Baird & Co., Incorporated
Attn: Syndicate Department
777 E. Wisconsin Avenue
Milwaukee, WI 53202
Tel.: (414) 765-3632
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities, in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or other jurisdiction.
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Copyright © 2009, NewsBlaze,
Daily NewsTags: ,FinancialServices:Commercial and InvestmentBanking, RealEstateandConstruction:CommercialRealEstate, RealEstateandConstruction:Construction, RealEstateandConstruction:ResidentialRealEstate, ,NASDAQ01,NASDAQ01,ND,MINOT, ND
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