Aimco Announces Pricing of Public Offering of Common Stock

Aimco, a real estate investment trust focused on the ownership and management of quality apartment communities, has priced its public offering of 8,200,000 shares of common stock. The net proceeds from the offering will be used to repay indebtedness under its revolving credit facility and for general corporate purposes. The offering is expected to close on January 16, 2015, subject to customary conditions.

Key Takeaways:

• Aimco has priced its public offering of 8,200,000 shares of common stock, with the net proceeds to be used for repaying indebtedness and general corporate purposes.
• The offering is expected to close on January 16, 2015, subject to customary conditions.
• Citigroup and KeyBanc Capital Markets acted as joint book-running managers for the offering.
• Aimco has granted the underwriters a 30-day option to purchase an additional 1,230,000 shares of its common stock.
• Aimco has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the SEC for the offering.
• Aimco is one of the country's largest owners and operators of apartments, with 204 communities in 23 states and the District of Columbia.
• Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV, and are included in the S&P 500.

Statistics:

• 8,200,000 shares of common stock are being offered in the public offering.
• The net proceeds from the offering will be used to repay approximately $8,200,000 in indebtedness under Aimco's revolving credit facility.
• Aimco has 204 apartment communities in 23 states and the District of Columbia.
• Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV.

Sources:

• Aimco press release, January 2015
• U.S. Securities and Exchange Commission (SEC) EDGAR database
• Aimco Annual Report on Form 10-K for the year ended December 31, 2013