Whitestone tumbles after secondary offering

|About: Whitestone REIT (WSR)|By:, SA News Editor

Pricing on the 4M share offering was at $13.54 per share, with underwriters having an option to purchase another 600K of the common. Net proceeds to Whitestone (WSR -6.1%) are expected to be about $52M. The offering will add about 27% to the stock float, assuming the greenshoe option is exercised.