Arbor Realty Trust Announces Pricing of Public Offering of Common Stock
May 11 2017 - 8:30AM
Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced
today that it priced its public offering of 9,500,000 shares of
common stock for total expected gross proceeds of approximately
$77.9 million before underwriting discounts and commissions and
expenses.
The Company has also granted the underwriters a
30-day option to purchase up to an additional 1,425,000 shares of
its common stock. The offering is subject to customary closing
conditions and is expected to close on May 16, 2017.
The Company intends to use the net proceeds from
the offering to make investments relating to its business, purchase
the existing management agreement from its external manager and for
general corporate purposes.
J.P. Morgan, Deutsche Bank Securities and JMP
Securities are joint book-running managers for the
offering.
The offering will be made pursuant to an effective
shelf registration statement, previously filed by the Company with
the Securities and Exchange Commission (“SEC”). The offering
of these securities will be made only by means of a prospectus.
Copies of the final prospectus supplement and accompanying
prospectus related to the offering may be obtained, when available,
by contacting J.P. Morgan Securities LLC, Attention: Prospectus
Department, c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or
by email at prospectus-eq_fi@jpmchase.com; or Deutsche Bank
Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York,
NY 10005-2836; Email: prospectus.CPDG@db.com; Telephone: (800)
503-4611; or JMP Securities LLC, 600 Montgomery Street, 10th Floor,
San Francisco, CA 94111, Attention: Prospectus Department, or by
calling (415) 835-3959.
This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any securities nor will
there be any sale of these securities in any state or other
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.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE:ABR) is a real
estate investment trust and national direct lender specializing in
loan origination and servicing for multifamily, seniors housing,
healthcare and other diverse commercial real estate assets. The
Company is a Top 10 Fannie Mae DUS® Multifamily Lender by volume
and a Top Fannie Mae Small Loan lender, a Freddie Mac Program Plus®
Seller/Servicer and the Top Freddie Mac Small Balance Loan Lender,
a Fannie Mae and Freddie Mac Seniors Housing Lender, an FHA
Multifamily Accelerated Processing (MAP)/LEAN Lender, a
HUD-approved LIHTC Lender as well as a CMBS, bridge, mezzanine and
preferred equity lender, consistently building on its reputation
for service, quality and flexibility. With a fee-based servicing
portfolio of over $14 billion, the Company is a primary commercial
loan servicer and special servicer rated by Standard & Poor’s
with an Above Average rating. The Company is also on the Standard
& Poor’s Select Servicer List and is a primary commercial loan
servicer and loan level special servicer rated by Fitch Ratings.
The Company is externally managed and advised by Arbor Commercial
Mortgage, LLC.
Safe Harbor Statement
Certain items in this press release may constitute
forward-looking statements within the meaning of the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements relating to the Company’s
expectations regarding the anticipated closing date and the
anticipated use of the net proceeds from the offering. These
statements are based on management’s current expectations and
beliefs and are subject to a number of trends and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements. The Company can give
no assurance that its expectations will be attained. Factors
that could cause actual results to differ materially from the
Company’s expectations include, but are not limited to, risks and
uncertainties related to the completion of the public offering on
the anticipated terms or at all, market conditions, the
satisfaction of customary closing conditions related to the public
offering, and other risks detailed in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2016 and its other
reports filed with the SEC. Such forward-looking statements speak
only as of the date of this press release. The Company expressly
disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained
herein to reflect any change in the Company’s expectations with
regard thereto or change in events, conditions, or circumstances on
which any such statement is based.
Contacts:
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer
516-506-4422
pelenio@arbor.com
Media:
Bonnie Habyan, EVP of Marketing
516-506-4615
bhabyan@arbor.com
Investors:
The Ruth Group
Lee Roth
646-536-7012
lroth@theruthgroup.com
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