Deal Details
Follow-On Offering
Summary
Baird served as a book-running manager on this offering.
About
CatchMark Timber Trust, Inc. (“CatchMark” or the “Company”) (NYSE: CTT) recently completed a follow-on offering of 14,375,000 shares of common stock at a price of $11.75 per share, generating gross proceeds of approximately $169 million. The Company intends to use the net proceeds from the offering to fund future acquisitions, repay 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. CatchMark is headquartered in Norcross, Georgia.
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- Date
- July 2014
- Company
- CatchMark Timber Trust, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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