Arena REIT Completes Major Institutional Placement

Arena REIT (AU:ARF) has released an update.

Arena REIT successfully completed a $120 million Institutional Placement, issuing about 31.7 million new securities at $3.78 each, a modest discount from the recent closing price. The company also announced a Security Purchase Plan for eligible shareholders, aiming to raise up to an additional $20 million. Trading of Arena REIT Securities will resume following the lift of a trading halt in anticipation of these financial activities.

For further insights into AU:ARF stock, check out TipRanks’ Stock Analysis page.