CatchMark Prices Upsized Stock Offering

(RTTNews) - CatchMark Timber Trust, Inc. (CTT) said Friday that it has priced its underwritten offering of 12.5 million shares of its Class A common stock at $11.75 per share.

The offering was upsized from the previously announced public offering of 10 million Class A common stock shares. The underwriters have a 30-day option to purchase up to an additional 1.875 million shares.

The company expects to use the net proceeds from this offering, together with the available borrowing capacity under its multi-draw term credit facility, after giving effect to the application of the net proceeds from the offering, mainly for future timberland acquisitions, including previously announced pending acquisitions.