Ramco-Gershenson Announces Commencement of Preferred Share Offering of $75M

Ramco-Gershenson Properties Trust RPT announced today that it has commenced an underwritten public offering to sell $75 million (1,500,000 shares) of newly issued cumulative convertible perpetual preferred shares of beneficial interest. The joint book-running managers for this offering are Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC. KeyBanc Capital Markets Inc. is acting as lead manager of the offering, and Stifel, Nicolaus & Company, Incorporated, is acting as manager. The Company plans to grant the underwriters a 30-day option to purchase up to an additional $11.25 million (225,000 additional shares) of the preferred shares.