Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Independence Realty Trust, Inc. (“IRT” or the “Company”) (NYSE: IRT) recently completed a follow-on offering of 16,100,000 shares of common stock at a price of $17.75 per share, including 2,100,000 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares of common stock. The Company expects to use the net proceeds to repay indebtedness, including, potentially, indebtedness that IRT will assume upon consummation of its pending mergers with Steadfast Apartment REIT, Inc. and its operating partnership subsidiary, Steadfast Apartment REIT Operating Partnership, L.P. Any remaining proceeds are expected to be used for general working capital, including to pay fees and expenses that the Company has incurred and will continue to incur in connection with the pending mergers.
Independence Realty Trust, Inc. is a self-administered and self-managed real estate investment trust focused on the acquisition, ownership, operation, improvement and management of multifamily apartment properties across non-gateway U.S. markets. As of June 30, 2021, the Company owned and operated 58 multifamily apartment properties that contain 16,261 units located in Georgia, North Carolina, Tennessee, Kentucky, Ohio, Oklahoma, Indiana, Texas, Florida, South Carolina, Missouri, and Alabama. The Company is headquartered in Philadelphia, Pennsylvania.
For additional information about this transaction, please contact: