Published:
Investors Real Estate Trust's Underwriters Exercise Over-Allotment Option
Investors Real Estate Trust (NASDAQ: IRETS)
announced today that it has closed the sale of 900,000 of its common shares
of beneficial interest pursuant to the underwriters' over-allotment option
in connection with the Company's recent public equity offering. The shares
were sold at the public offering price of $10.20 per share, less the
applicable underwriting discount. The exercise of the over-allotment option
brings the total shares sold in the offering to 6,900,000. The Company
received aggregate net proceeds from the offering of approximately $66.3
million, after deducting underwriting discounts and commissions and
estimated offering expenses.
Investors Real Estate Trust is 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.
Robert W. Baird & Co., Incorporated was the bookrunning manager for the
offering. D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, Inc. were
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.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,FinancialServices:Commercial and InvestmentBanking, FinancialServices:InvestmentServicesandTrading, FinancialServices:PersonalFinance, RealEstateandConstruction:CommercialRealEstate, RealEstateandConstruction:ResidentialRealEstate, ,NASDAQ01,NASDAQ01,ND,MINOT, ND
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