Education Realty 3% lower after secondary offering


The offering size is upsized to 21.3M shares from 19.8M and prices at $10.20 each. Net proceeds (not including the underwriter greenshoe) are expected to be about $208M, and will be used to fund the purchase of The District on Apache at ASU, and pay down some of the company's credit line.

EDR slipped 3% in after-hours action to $10.10 following the offering announcement.

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Comments (1)
  • Stock Market Mike
    , contributor
    Comments (3509) | Send Message
     
    The market seems to love the news. It's up big today. Right back to within pennies of the 52wk high...

     

    -Mike
    19 Jun 2014, 12:16 PM Reply Like
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