UNIONDALE, N.Y., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (NYSE: ABR) announced today that it priced its public offering of 7,000,0000 shares of common stock for total expected gross proceeds of approximately $94.5 million before underwriting discounts and commissions and expenses. The offering is subject to customary closing conditions and is expected to close on November 13, 2020.

The Company has also granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock.

The Company intends to use the net proceeds from the offering to make investments relating to its business and for general corporate purposes. The Company also intends to use a portion of the net proceeds from this offering to purchase an aggregate of 700,000 shares, or 805,000 shares if the underwriters exercise in full their option to purchase additional shares, of the Company’s common stock from its Chief Executive Officer, Arbor Commercial Mortgage, LLC and/or estate planning family vehicles established by the Company’s Chief Executive Officer, at the same price the underwriters will purchase the shares in this offering.

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. (NYSE:ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Headquartered in New York, Arbor manages a multibillion-dollar servicing portfolio, specializing in government-sponsored enterprise products. Arbor is a Fannie Mae DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product platform also includes CMBS, bridge, mezzanine and preferred equity lending.