InvenTrust Properties Prices Public Offering Of $224 Mln Of Shares

(RTTNews) - InvenTrust Properties Corp. (IVT) said on Tuesday it has priced the public offering of 8 million shares at $28 per share to raise $224 million.

The company aims to use the net proceeds for general corporate purposes, repayment of debts, and to acquire additional properties, among others.

InvenTrust also granted the underwriters a 30-day option to purchase up to an additional 1.200 million shares.

The offering is expected to close on September 25.

J.P. Morgan, BofA Securities, and Wells Fargo Securities are the joint-book-running managers for the offering.