By Devika Patel
Knoxville, Tenn., Feb. 9 - Cedar Shopping Centers Inc. settled a private placement of stock for $8.25 million on Feb. 5, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 1.25 million common shares at $6.60 apiece to RioCan Holdings USA Inc.
The proceeds were used to repay debt owed under the company's secured revolving credit facility for stabilized properties.
Cedar Shopping is a Port Washington, N.Y.-based real estate investment trust that focuses primarily on ownership, operation, development and redevelopment of supermarket-anchored shopping centers.
| Issuer: | Cedar Shopping Centers Inc.
|
| Issue: | Common stock
|
| Amount: | $8.25 million
|
| Shares: | 1.25 million
|
| Price: | $6.60
|
| Warrants: | No
|
| Investor: | RioCan Holdings USA Inc.
|
| Settlement date: | Feb. 5
|
| Stock symbol: | NYSE: CDR
|
| Stock price: | $6.65 at close Feb. 5
|
| Market capitalization: | $327 million
|
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