Inland Real Estate Corporation (NYSE: IRC - News) (the “Company”) today announced that it has priced its public offering of 16.0 million shares of its common stock at $6.50 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 2.4 million shares of common stock to cover over-allotments, if any. The Company expects the net proceeds from the offering, before offering expenses, to be approximately $99.3 million or approximately $114.2 million if the underwriters' option to purchase additional shares is exercised in full.
Merrill Lynch & Co. and Wachovia Securities are acting as joint book-running managers for the offering. BMO Capital Markets Corp. and KeyBanc Capital Markets Inc. are acting as co-lead managers for the offering.
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