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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, December 5, 7:07 PM
Slide #314. American Homes 4 Rent — Preferred Stock Offering
| Company: |
American Homes 4 Rent (NYSE:AMH) |
| Date announced: |
4/24/2014 |
| Security type: |
5.50% Series C Participating Preferred Shares (AMH.PRC) |
| Shares Offered: |
7,400,000 |
| Date of Pricing: |
4/29/2014 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
American Homes 4 Rent (NYSE: AMH) (the "Company") today announced that the Company has commenced an underwritten public offering of its Series C Participating Preferred Shares. Investors in the Series C Participating Preferred Shares may potentially benefit from home price appreciation in the Company's top 20 markets by participating in home price gains as determined by the Federal Housing Finance Agency's House Price Index measured from December 31, 2013, subject to certain limitations and payable upon certain defined realization events in each case described in the prospectus for the securities.[1] In addition, the Company will grant the underwriters a 30-day option to purchase up to an additional 15% of the Series C Participating Preferred Shares. The Company intends to apply to list the Series C Participating Preferred Shares on the New York Stock Exchange under the symbol "AMHPRC." - updated 4/29 - American Homes 4 Rent (NYSE: AMH) (the "Company") today announced the pricing of its underwritten public offering of 7,400,000 of its 5.50% Series C Participating Preferred Shares raising gross proceeds of approximately $185 million, before deducting underwriting discounts and estimated offering expenses. The Series C Participating Preferred Shares have an initial liquidation preference of $25 per share. Investors in the Series C Participating Preferred Shares may potentially benefit from home price appreciation in the Company's top 20 markets as determined by the Federal Housing Finance Agency's House Price Index measured from December 31, 2013, subject to certain limitations and payable upon certain defined realization events in each case described in the prospectus for the securities.1 The offering is expected to close on May 2, 2014, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,110,000 Series C Participating Preferred Shares at the public offering price, less underwriting discounts and commissions. The Company intends to apply to list the Series C Participating Preferred Shares on the New York Stock Exchange under the symbol "AMHPRC." |
American Homes 4 Rent is a real estate investment trust focused on acquiring, renovating, leasing and operating single-family homes as rental properties. American Homes 4 Rent, L.P. and its consolidated subsidiaries is the entity through which Co. conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its assets. Co.'s portfolio of single-family properties is internally managed through its proprietary property management platform. Preferreds: AMH.PRA, AMH.PRB, AMH.PRC, AMH.PRD, AMH.PRE, AMH.PRF, AMH.PRG
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Open the AMH.PRC Page at Preferred Stock Channel for More Information About this Preferred »
| Name: |
American Homes 4 Rent |
| Website: |
www.americanhomes4rent.com |
| Sector: |
REITs |
| Number of ETFs Holding AMH: |
52 (see which ones) |
| Total Market Value Held by ETFs: |
$852,639,812 |
| Total Market Capitalization: |
$7,985,000,000 |
| % of Market Cap. Held by ETFs: |
10.68% |
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