BOSTON (TheStreet) -- American Campus Communities (ACC) - Get Report shares fell early in Monday's trading session after the student housing properties real estate investment trust announced details of a secondary offering of common stock.
said it plans to sell 10 million shares of common stock in a public offering. Net proceeds will be used to fund the acquisition of the 90% interest not currently owned by it in 14 of the properties in an existing joint venture portfolio. Underwriters have an option to purchase up to an additional 1.5 million shares to cover overallotments, if any.
Shares of American Campus were down 85 cents, or 3%, to $27.68. Only 74,000 shares changed hands by 10:15 a.m. ET Monday, compared to the average daily share volume of 593,000.
said it has commenced a public offering of 25 million shares of common stock on behalf of certain subsidiaries of Misys, Allscripts' majority stockholder. The shares are being sold to reduce Misys' equity stake in Allscripts in connection with its pending merger with
Allscripts said it will not sell any shares and will not receive any proceeds. The offering includes an option for the underwriters to purchase up to 3.75 million additional shares from the selling stockholders to cover overallotments, if any.
Shares of Allscripts-Misys were climbing by 49 cents, or 2.9%, to $17.42.
In other offering news,
( BEZ) filed late Friday for a mixed shelf offering for an indeterminate amount. The company did not specify how it would use net proceeds from any offering. Shares of Baldor were rising by 25 cents, or 0.7%, to $37.02.
filed late Friday for a $600 million mixed shelf offering. The new registration statement replaces its existing one from July 2009, the food company said. Shares of B&G Foods were rising by 11 cents, or 1%, to $10.73.
-- Written by Robert Holmes in Boston
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