Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Monday, February 9, 2:49 PM
Slide #223. American Homes 4 Rent — Preferred Stock Offering
| Company: |
American Homes 4 Rent (NYSE:AMH) |
| Date announced: |
9/12/2018 |
| Shares Offered: |
4,000,000 |
| Date of Pricing: |
9/12/2018 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that it has priced an underwritten public offering of 4,000,000 of its 6.25% Series H Cumulative Redeemable Perpetual Preferred Shares (the "Series H Preferred Shares") raising gross proceeds of approximately $100 million, before deducting underwriting discounts and commissions and estimated offering expenses. The Series H Preferred Shares have an initial liquidation preference of $25 per share. The offering is expected to close on September 19, 2018, subject to customary closing conditions. The Company has also granted to the underwriters a 30-day option to purchase up to an additional 600,000 Series H Preferred Shares at the public offering price, less the underwriting discount. The Company intends to apply to list the Series H Preferred Shares on the New York Stock Exchange under the symbol "AMHPRH." If the application is approved, the Company expects trading to commence within 30 days after initial delivery of the Series H Preferred Shares. |
American Homes 4 Rent is an internally managed Maryland real estate investment trust (REIT). Co.'s primary objective is to generate risk-adjusted returns for its shareholders through dividends and capital appreciation by acquiring, developing, renovating, leasing and managing single-family homes as rental properties. It owns 59,332 single-family properties in select submarkets of metropolitan statistical areas in 21 states. Co. is also focused on developing built-for-rental homes through its internal AMH Development Program. In addition, it also acquires newly constructed homes from third-party developers through its National Builder Program.
Preferreds: AMH.PRA, AMH.PRB, AMH.PRC, AMH.PRD, AMH.PRE, AMH.PRF, AMH.PRG, AMH.PRH
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