InvenTrust Properties Corp (IVT) Announces 6.5M Share Offering
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InvenTrust Properties Corp. (NYSE: IVT) today announced that it has commenced an underwritten registered public offering to sell 6,500,000 shares of its common stock. The Company expects to grant the underwriters in the offering a 30-day option to purchase up to an additional 975,000 shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
J.P. Morgan, BofA Securities, and Wells Fargo Securities will act as joint book-running managers for the public offering.
The Company intends to use the net proceeds for general corporate purposes, including, but not limited to, funding the acquisition of additional properties, repayment of short-term and long-term indebtedness (including mortgage loans, including a $72.5 million loan with Bank of America, N.A., and amounts outstanding from time to time under the Company’s revolving credit facility) and providing for working capital.
The offering is being made pursuant to an effective shelf registration statement (containing a prospectus) filed with the Securities and Exchange Commission (the “SEC”). The proposed offering will be made only by means of a preliminary prospectus supplement and accompanying prospectus, which will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectus, when available, may also be obtained by contacting J.P. Morgan Securities LLC, c/o: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus Department, telephone: 1-800-294-1322, or by email at [email protected]; and Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall 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 such state or other jurisdiction.
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