Municipal Mortgage & Equity LLC, Baltimore, has completed an offering of 2.8 million shares of common stock at $23.60 per share.Net proceeds from the transaction are estimated at $62.3 million, MuniMae said. The offering was managed by RBC Capital Markets, Merrill Lynch & Co., UBS Warburg, Legg Mason Wood Walker Inc. and Wachovia Securities. The underwriters have been granted an option to buy up to an additional 420,000 shares of common stock to cover any overallotments. MuniMae can be found on the Web at http://www.munimaemidland.com.
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