Why American Homes 4 Rent (AMH) Stock Is Falling Today

NEW YORK (TheStreet) -- American Homes 4 Rent (AMH) was falling -1.8% to $17.67 Thursday after announcing the pricing of its 13 million share public offering.

The company priced the 13 million Class A common shares in the offer for gross proceeds of about $229.5 million. American Homes 4 Rent also announced that the daughter of chairman B. Wayne Hughes will purchase $50 million of shares in a private offering. Total gross proceeds from both offerings will total about $279.5 million.

American Homes 4 Rent will contribute the net proceeds from the offerings to its operating partnership, which will use the proceeds to repay debt and general corporate purposes.

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