03:22 AM EDT, 09/26/2024 (MT Newswires) -- Armada Hoffler Properties ( AHH ) said late Wednesday it has priced an underwritten public offering of 9 million common shares for about $94.5 million in gross proceeds.

The underwriters have been granted a 30-day option to purchase up to 1.4 million additional shares.

Net proceeds will be used for debt repayments, working capital and general corporate purposes.

The offering, which has been upsized from 7 million shares, is expected to close on Friday, subject to customary conditions.

Price: 11.19, Change: -0.67, Percent Change: -5.65