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American Realty Capital Properties Says Underwriters Exercise Option to Purchase Additional Shares; Inching Higher in Pre-Market

American Realty Capital Properties Says Underwriters Exercise Option to Purchase Additional Shares; Inching Higher in Pre-Market

American Realty Capital Properties (ARCP) Thursday said that the underwriters in its previously announced public offering of 120 million common shares have exercised their option to buy an additional 18 million shares at $12 each. As a result, the commercial-focused real estate investment trust will issue 138 million shares, for net proceeds of $1.59 billion, which will be used to pay debt and for general corporate purposes. ARCP was up 0.2% in recent pre-market trading on Friday, in a 52-week range of $12.13 - $17.85.

American Realty Capital Properties Says Underwriters Exercise Option to Purchase Additional Shares; Inching Higher in Pre-Market