American Realty Capital Properties (ARCP), New York, said it expects its initial public offering to close on Sept. 6, with trading of the company's common stock to start the following day on the NASDAQ Capital Market, that exchange's tier for small cap stocks.
ARCP is offering a minimum of 5.4 million and a maximum of 8 million shares of common stock at $12.50 per share. The shares are being sold through Realty Capital Securities and Ladenburg Thalmann & Co.
The company said it expects to complete the sale process on or about Sept. 1.
The company was incorporated last December, with the intention of qualifying as a real estate investment trust. It will concentrate on owning and acquiring single tenant freestanding commercial real estate properties with medium-term net leases and high credit quality tenants.
