Saturday, April 4, 2026

April 21, 2009

ARE Announces Senior Tertiary Offering

Thu Mar 19 09:21:48 2009 EDT:
($ARE) 7 Million share Secondary priced at $38.25.

The deal size was increased to 7,000,000 shares from 4,500,000 shares.
Merrill Lynch & Co. ($MER), Citibank ($C) and J.P.Morgan ($JPM) were the dealers.

6:32 PM Mar 20th from web Mr. Volatility tweets:
It’s sad to think about all the poor shareholders that are now stuck with 7 million shares of ($ARE).

This morning ($ARE) lowered their dividend from 80 cents to 35 cents and announced a senior convertible debt offering.

In response to inquiries, management and the dealers will likely respond: How could we have known?

Peace


Categories: Investment Banking, trading

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