Winthrop Realty Trust FUR announced that it priced a public offering of 5,000,000 of its common shares of beneficial interest at a public offering price of $12.25 per share for total gross proceeds of approximately $61.25 million.
Winthrop has granted Barclays Capital Inc., the sole underwriter for the offering, an option for 30 days to purchase up to an additional 750,000 common shares. The offering, which increased in size from the previously proposed 3,000,000 common share offering, is subject to customary closing conditions and is expected to close on September 27, 2010.
Winthrop intends to use the proceeds from the sale for additional investments and general corporate purposes.
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