Gramercy upsizes secondary to 40M shares; prices at $4.98

|About: Gramercy Property Trust,... (GPT)|By:, SA News Editor

The original size of the offering was 34M shares. The greenshoe is upsized as well - to 6M shares from 5.1M.

Investors yesterday gave their thumbs up to Gramercy's (GPT) capital raise and buyout of its partner's 50% stake in the Bank of America branch/office portfolio, bidding the stock up to $5.21 after shares dropped below $5 in the initial knee-jerk response.

Previously: Gramercy to buy out partner in BofA portfolio

Previously: 34M share secondary for Gramercy Property Trust