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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Tue., Jul. 22, 11:08 AM

Slide #22. CatchMark Timber Trust, Inc. Secondary Offering

Company: CatchMark Timber Trust, Inc. (NYSE:CTT)
Date announced: 7/7/2014
Shares Offered: 12,500,000
Date of Pricing: 7/11/2014
Price Per Share: $11.75
Secondary Offering Details: CatchMark Timber Trust, Inc. (NYSE: CTT) has commenced an underwritten offering of 10,000,000 shares of its Class A common stock. CatchMark expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of Class A common stock in the offering solely to cover overallotments, if any. - updated 7/11 - CatchMark Timber Trust, Inc. (NYSE: CTT) today has priced its underwritten offering of 12,500,000 shares of its Class A common stock at $11.75 per share. The offering was upsized from the previously announced public offering of 10,000,000 Class A common stock shares. The underwriters have a 30-day option to purchase up to an additional 1,875,000 shares. CatchMark expects to use the net proceeds from this offering, together with the available borrowing capacity under its multi-draw term credit facility, after giving effect to the application of the net proceeds from this offering, primarily for future timberland acquisitions, including previously announced pending acquisitions.

CatchMark Timber Trust is a real estate investment trust company investing in timberlands. Co. primarily engages in the ownership, management, acquisition and disposition of timberland properties located in the timber-producing regions of the southeastern U.S. As of Sept. 30, 2013, Co. owned approximately 247,200 acres of timberland and held long-term leasehold interests in approximately 32,800 acres of additional timberland, all of which is located on the Lower Piedmont and Upper Coastal Plains of East Central Alabama and West Central Georgia.
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Company Name:  Catchmark Timber Trust Inc
Website:  www.catchmark.com
Sector:  REITs
Number of ETFs Holding CTT:  14
Total Market Value Held by ETFs:  $4.90M
Total Market Capitalization:  $192.00M
% of Market Cap. Held by ETFs:  2.55%
 

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July 22, 2014    11:08 AM Eastern
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Strong Buy (3.67 out of 4)
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