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Article: First Union Real Estate Investments Announces Five Million Share Offering
- Article from:
- PR Newswire
- Article date:
- May 8, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CLEVELAND, May 8 /PRNewswire/ -- First Union Real Estate Investments (NYSE: FUR) today announced the forthcoming public offering of 5,000,000 common shares. The offering will be underwritten by Prudential Securities Incorporated, Alex. Brown & Sons Incorporated, and Sutro & Co. Incorporated. First Union (the Trust) also granted the underwriters the option to purchase an additional 750,000 shares to cover over-allotments. The offering will be made pursuant to an effective $200 million shelf registration statement filed in February 1996. Following the offering, First Union will have 34.2 million common shares outstanding (fully converted for the Company's outstanding ...