InvenTrust Properties (IVT) said Monday it has started an underwritten public offering of 6.5 million shares, with JP Morgan, BofA Securities, and Wells Fargo Securities as joint book-running managers.
The company said it expects to grant its underwriters a 30-day option to buy up to an additional 975,000 shares.
Net proceeds from the offering will be used for general corporate purposes including, acquisitions of additional properties, repayment of debt and working capital, the firm said.
Shares of the company were more than 2% lower in after-hours activity.
Price: 28.68, Change: -0.81, Percent Change: -2.75
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