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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Tue., Jul. 7, 12:35 AM

Slide #14. CorEnergy Infrastructure Trust, Inc. Secondary Offering

Company: CorEnergy Infrastructure Trust, Inc. (NYSE:CORR)
Date announced: 6/22/2015
Shares Offered: 11,250,000
Date of Pricing: 6/24/2015
Price Per Share: $6.00
Secondary Offering Details: CorEnergy Infrastructure Trust, Inc. (NYSE:CORR) ("CorEnergy" or the "Company") today announced that it intends to offer, subject to market and other conditions, 11.25 million shares of common stock in an underwritten public offering. CorEnergy also intends to allow the underwriters a 30-day option to purchase up to an additional 1.6875 million shares of the common stock, at the public offering price, less the underwriting discount. - updated 6/24 - In its common stock offering, CorEnergy has agreed to sell 11.25 million shares of common stock at a purchase price of $6.00 per share. The gross proceeds of the offering are expected to be $67.5 million, before underwriting discounts and other estimated offering expenses. CorEnergy has granted the underwriters a 30-day option to purchase up to an additional 1.6875 million shares of the common stock at the public offering price, less the underwriting discount. The common stock offering is scheduled to close on or about June 29, 2015, subject to customary closing conditions.

Corenergy Infrastructure Trust is a real estate investment trust. Co. is focused on acquiring and financing midstream and downstream real estate assets within the U.S. energy infrastructure sector and entering into long-term triple net participating leases with energy companies. Co. also may provide other types of capital, including loans secured by energy infrastructure assets. Targeted assets include pipelines, storage tanks, transmission lines and gathering systems, among others. Co. is externally managed by its manager, Corridor InfraTrust Management, LLC.

Preferred: CORR.PRA

Open the CORR Page at The Online Investor »

Company Name:  CorEnergy Infrastructure Trust Inc
Sector:  REITs
Number of ETFs Holding CORR:  19
Total Market Value Held by ETFs:  $11.42M
Total Market Capitalization:  $301.00M
% of Market Cap. Held by ETFs:  3.79%

Open the CORR Page at The Online Investor (in a new window) »

July 7, 2015    12:35 AM Eastern
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Strong Buy (3.60 out of 4)
73rd percentile
(ranked higher than approx. 73% of all stocks covered)
Based on Zacks ABR data;
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