Arbor Realty Trust, Inc. Announces Pricing of Public Offering of Common Stock
May 15 2019 - 6:40PM
Arbor Realty Trust, Inc. (the “Company”) (NYSE: ABR) announced
today that it priced its public offering of 8,000,000 shares of
common stock for total expected gross proceeds of approximately
$102.2 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 1,200,000 shares of its common
stock. The offering is subject to customary closing conditions
and is expected to close on May 20, 2019.
The Company intends to use the net proceeds from the offering to
make investments relating to its business and for general corporate
purposes. The Company also intends to use a portion of the net
proceeds from this offering to purchase an aggregate of 800,000
shares of the Company’s common stock from its Chief Executive
Officer, Arbor Commercial Mortgage, LLC and an estate planning
family vehicle established by the Company’s Chief Executive
Officer, at the same price the underwriters will purchase the
shares in this offering.
J.P. Morgan 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 preliminary 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 JMP Securities LLC,
600 Montgomery Street, 10th Floor, San Francisco, CA 94111,
Attention: Prospectus Department, or by calling (415) 835-8985.
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 nationwide real estate
investment trust and direct lender, providing loan origination and
servicing for multifamily, seniors housing, healthcare and other
diverse commercial real estate assets. Headquartered in Uniondale,
New York, Arbor manages a multibillion-dollar servicing portfolio,
specializing in Fannie Mae, Freddie Mac and other
government-sponsored enterprises, as well as CMBS, bridge,
mezzanine and preferred equity lending.
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 proposed
offering 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 offering on the
anticipated terms or at all, market conditions, the satisfaction of
customary closing conditions related to the offering, and other
risks detailed in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2018 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 516-506-4422pelenio@arbor.com |
Investors:The Ruth GroupJanhavi
Mohite646-536-7026jmohite@theruthgroup.com |
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Media:Bonnie Habyan, Chief
Marketing Officer516-506-4615bhabyan@arbor.com |
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