Cedar Realty Trust, Inc. Announces Exercise of Common Stock Option
PORT WASHINGTON, N.Y., Jan. 8, 2015 /PRNewswire/ -- Cedar Realty Trust, Inc. (NYSE: CDR) announced today that the underwriter of its previously announced common stock offering exercised its option to purchase an additional 750,000 shares. As a result, the Company will issue a total of 5,750,000 shares in the offering and will receive net proceeds, after deducting underwriting costs and other expenses, of approximately $41.9 million. The offering is expected to close on or about January 12, 2015.
About Cedar Realty Trust
Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust which focuses on the ownership and operation of primarily grocery-anchored shopping centers straddling the Washington DC to Boston corridor. The Company's portfolio (excluding properties treated as "held for sale") is comprised of 58 properties, with approximately 9.2 million square feet of gross leasable area.
Forward Looking Statements
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and outcomes to differ materially from those expressed or implied in forward-looking statements. Please refer to the documents filed by Cedar Realty Trust, Inc. with the Securities and Exchange Commission which identify important risk factors which could cause actual results to differ from those contained in forward-looking statements.
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SOURCE Cedar Realty Trust, Inc.
Released January 8, 2015