OAK BROOK, IL--(BUSINESS WIRE)--Inland Real Estate Corporation (NYSE: IRC) today announced that on October 6, 2011, it issued 2,000,000 shares of its 8.125% Series A Cumulative Redeemable Preferred Stock (Series A Preferred Stock) at a public offering price of $25.00 per share, for net proceeds of approximately $48.4 million, after deducting the underwriting discount but before expenses.
The Company offered and sold the shares pursuant to an effective registration statement under the Securities Act of 1933.
The Series A Preferred Stock has been approved for listing on the New York Stock Exchange under the symbol “IRCPrA,” and admission to trading is expected to occur on October 10, 2011.
Wells Fargo Securities and BofA Merrill Lynch acted as joint book-running managers for the offering. BMO Capital Markets and KeyBanc Capital Markets acted as senior co-managers for the offering, and Deutsche Bank Securities, Janney Montgomery Scott and Macquarie Capital acted as co-managers for the offering.
Contacts
Inland Real Estate Corporation (Investors/Analysts):
Dawn Benchelt, Investor Relations Director
(630) 218-7364
or
Inland Communications, Inc. (Media):
Joel Cunningham, Media Relations
(630) 218-8000 x4897
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