Retail Opportunity Prices Public Offering Of 4.80 Mln Shares At $16.55 Per Share

(RTTNews) - Retail Opportunity Investments Corp. (ROIC) said it has priced a public offering of 4.8 million shares of common stock at a price of $16.55 per share, for net proceeds of about $75.8 million, after deducting underwriting discounts and commissions and estimated offering expenses.

The share offering represents a 300,000 share upsize to the originally proposed 4.5 million share offering. The company has granted the underwriters a 30-day option to purchase up to an additional 720,000 shares.

Retail Opportunity intends to use the net proceeds from the offering to reduce borrowings under the company's $500 million unsecured revolving credit facility.

Citigroup, J.P. Morgan, BMO Capital Markets, Raymond James and RBC Capital Markets acted as joint book-running managers for the offering.

Canaccord Genuity and Cowen and Company acted as co-managers in connection with the public offering.