Bluerock Residential Growth REIT (BRG) Announces Closing of Public Offering of Class A Common Stock and Full Exercise of Underwriters’ Option

Share Article

Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (the “Company”) today announced the completion of its underwritten public offering of 4,600,000 shares of Class A common stock, including 600,000 shares of Class A common stock issued pursuant to the full exercise of an option to purchase additional shares of Class A common stock granted to the underwriters, at a price per share of $12.50.

News Image

The Company received approximately $53.7 million in total net proceeds from the offering after deducting underwriting discounts, commissions, fees and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the offering to invest in multifamily assets and for other general corporate and working capital purposes, which may include the funding of capital improvements at the Company’s properties.

Wunderlich Securities and Compass Point served as joint book-running managers for the offering. D.A. Davidson & Co., Janney Montgomery Scott, and BB&T Capital Markets served as co-lead managers for the offering, and Boenning & Scattergood, Inc. and National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (OTCBB:NHLD), served as co-managers for the offering.

Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from the Securities and Exchange Commission's website at http://www.sec.gov or by contacting: Wunderlich Securities, Inc., Attention: Equity Syndicate, 6000 Poplar Avenue, Suite 150, Memphis, TN 38119, or by email at syndicate(at)wundernet.com, or Compass Point Research & Trading, LLC, Equity Syndicate, 3000 K Street, NW, Suite 340,Washington DC, 20007, or by email at syndicate(at)compasspointllc.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities is being made only by means of a prospectus supplement and accompanying prospectus.

About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust formed to acquire a diversified portfolio of institutional-quality apartment properties in demographically attractive growth markets throughout the United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. Please visit the Company’s website at http://www.bluerockresidential.com.

Forward Looking Statements
This press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.” Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur, including, without limitation, the Company's proposed use of net proceeds. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the preliminary prospectus supplement and accompanying prospectus filed by the Company with the SEC on January 12, 2015, the final prospectus supplement dated January 13, 2015 filed by the Company with the SEC, and the documents incorporated therein by reference, and in the Company’s annual and periodic reports and other documents filed with the SEC, copies of which are available on the SEC’s website, http://www.sec.gov

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Joshua Hoffman
Bluerock Real Estate
+1 (208) 475-2380
Email >
Visit website