Bluerock Residential Growth REIT, Inc. has announced the pricing of its public offering of 4,000,000 shares of its Class A common stock. Shares of the Company’s Class A common stock trade on the NYSE MKT under the ticker symbol “BRG.”
The stock will be at a price to the public of $13.15 per share, for total net proceeds of approximately $49.77 million after deducting underwriting discounts, commissions, and estimated offering expenses payable by Bluerock Residential. The offering is expected to close on January 17, 2017, subject to customary closing conditions. Bluerock Residential Growth REIT has granted the underwriters a 30-day option to purchase up to 600,000 additional shares to cover any overallotments.
D.A. Davidson & Co. is one of four firms serving as book-running managers.
Full details can be found here.