Initial Public Offering
Baird served as a book-running manager on this offering.
AboutCatchMark Timber Trust, Inc. (“CatchMark” or the “Company”) (NYSE: CTT) recently completed an initial public offering of 10,526,316 shares of common stock at a price of $13.50 per share, generating gross proceeds of approximately $142 million. The Company intends to use the net proceeds from the offering to redeem outstanding shares of Series A and B preferred stock, the repayment of outstanding indebtedness and for general corporate purposes.
CatchMark is an internally managed real estate investment trust that invests in timberlands primarily in the southeastern United States and is the only public company exclusively engaged in timberland ownership and management, without ownership of any forest products or other manufacturing operations. The Company generates recurring income and cash flow from the harvest and sale of timber, as well as from non-timber related revenue sources, such as recreational leases. CatchMark’s timberlands are located on the Lower Piedmont and Upper Coastal Plains of East Central Alabama and West Central Georgia. The company is headquartered in Norcross, Georgia.
For additional information about this transaction, please contact:
- December 2013
- CatchMark Timber Trust, Inc.
- Real Estate
- Target Location
- North America