CatchMark Timber Trust, Inc. (CatchMark) today has priced its underwritten offering of 4,000,000 shares of its Class A common stock at $12.35 per share. The offering is expected to close on October 17, 2017, subject to customary closing conditions. The underwriters have a 30-day option to purchase up to an additional 600,000 shares of Class A common stock in the offering solely to cover overallotments, if any.
Raymond James, Stifel, and RBC Capital Markets are serving as joint book-running managers for the offering. FBR Capital Markets & Co. is serving as the lead manager for the offering.
CatchMark Timber Trust, Inc. (NYSE: CTT) is a self-administered and self-managed, publicly-traded REIT that strives to deliver superior risk-adjusted returns for all stakeholders through disciplined acquisitions, sustainable harvests and well-timed sales. Headquartered in Atlanta and focused exclusively on timberland ownership, CatchMark began operations in 2007 and owns interests in approximately 502,600 acres* of timberland located in Alabama, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas.