The Denver-based EIT said early Tuesday it priced a secondary offering of 19 million common shares at $5.35 per share. It also granted underwriters an overallotment option for up to 2.85 million additional shares.
DCT, which reported in-line fourth-quarter earnings but maintained a 2011 outlook
with a fair amount of downside to Wall Street's consensus view, expects to raise about $95 million in net proceeds from the sale.
DCT intends to use the capital to repay amounts outstanding under its senior unsecured revolving credit facility and the remaining net proceeds for general corporate purposes, including for future acquisitions.
Earlier this week DCT maintained its
of 7 cents per share.
-- Written by Miriam Marcus Reimer in New York.
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