UNIONDALE, NY, Jan. 31, 2022 (GLOBE NEWSWIRE) — Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) today announced that it has priced the public offering of 3,100,000 shares of its 6.25% Series Cumulative Fixed/Floating Rate F Redeemable Preferred Shares (the “Series F Preferred Shares”), liquidation preference $25.00 per share, for gross proceeds of $75,020,000, before deduction of subscription discounts and estimated offering costs. The Company has granted the underwriters a 30-day option to purchase up to an additional 465,000 Series F Preferred Shares to cover over-allotments, if any. The additional Series F Preferred Shares constitute an additional issuance of Series F Preferred Shares, with 8,050,000 Series F Preferred Shares previously issued (the “Outstanding Series F Preferred Shares”). The Series F Preferred Shares will be treated as a single series with and will have the same terms as the outstanding Series F Preferred Shares. The outstanding Series F Preferred Shares are, and the Series F Preferred Shares sold pursuant to the Offer will be, listed on the NYSE under the symbol “ABR PrF”. The offering is expected to close on February 7, 2022, subject to customary closing conditions.
The Company intends to use the net proceeds of the offering to make investments related to its business and for general corporate purposes.
Raymond James & Associates, Inc. is acting as sole bookrunner for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and there will be no sale of such 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.
The offering is being made pursuant to the company’s existing effective registration statement previously filed with the Securities and Exchange Commission. The offering of these securities is made only by means of a prospectus and related prospectus supplement. When available, copies of the prospectus and accompanying final prospectus supplement relating to such securities may be obtained by contacting Raymond James & Associates, Inc., Attention: Syndicate, 880 Carillon Parkway St. Petersburg, FL 33716, by phone at (800) 248-8863, or by email at [email protected]
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing lending and servicing for multifamily and single family (SFR) rental portfolios and other real estate assets various trades. Based in New York, Arbor manages a multibillion-dollar portfolio of services, specializing in government-sponsored enterprise products. Arbor is a leading Fannie Mae DUS®, Freddie Mac Optigo® Seller/Servicer, and FHA Multifamily Accelerated Processing (MAP) approved lender. Arbor’s product platform also includes bridge, CMBS, mezzanine and senior loans.
Safe Harbor Statement
Certain elements of this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the offering and the intended use of the net proceeds of the offering. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company cannot guarantee that its expectations will be met. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, risks and uncertainties relating to the completion of the Offer on the terms anticipated or not at all, the terms market conditions, the satisfaction of customary closing conditions related to the offer, changes in economic conditions generally, and the real estate markets in particular, in particular, due to the uncertainties created by the COVID-19 pandemic, the ability continues to find new investments, changes in interest rates and/or credit spreads, and other risks detailed in the prospectus supplement relating to the offering and the documents incorporated by reference therein, including including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its other reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which such statement is based. .
Arbor Realty Trust, Inc.
Paul Elenio, Chief Financial Officer