Apartment REIT Independence Realty prices IPO at $8.50, below the range

By Renaissance Capital,

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Independence Realty Trust,an apartment REIT managed by RAIT Financial that owns eight properties in GA, AZ, CO, IN, TX and VA, raised $34 million by offering 4 million shares at $8.50, below the range of $10 to $11. Independence Realty Trust, which now commands a market cap of $82 million, will list on the NYSE MKT under the symbol IRT. Ladenburg Thalmann & Co, William Blair, JMP Securities and Compass Point acted as joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: IRT

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