American Campus Communities Inc., Austin, Texas, has priced a public offering of 4.95 million shares of common stock at $24.60 per share.The real estate investment trust, which focuses on the financing, development, and management of student housing, said the proceeds of the offering will be used to fund its development pipeline and potential acquisitions of student housing properties. Merrill Lynch & Co. and Citigroup Global Markets Inc. are the joint book-running managers of the offering. ACC said it has granted the underwriters an option to buy up to 742,500 additional shares to cover any overallotments.
Processing Content
