The offering, expected to close on Monday, will raise $31 million. Proceeds will be used to pay down a line of credit and loan. That will allow AmeriVest to buy new properties, adding to its portfolio of 27 office buildings in Denver, Dallas, Phoenix and Indianapolis.
RBC Capital Markets is acting as sole book-runner with RBC Capital Markets and Ferris, Baker Watts, Inc. as joint lead managers of the offering.
BB&T Capital Markets, J.J.B. Hilliard, W.L. Lyons, Inc., Morgan Keegan & Co. Inc. and Stifel, Nicolaus & Co. Inc. are serving as co- managers of the offering.
AmeriVest has granted the underwriters an option to purchase an additional 750,000 shares to cover any over-allotments.
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