$76.7-Million Stock Sale
Bloomberg News
SANTA ANA HEIGHTS —
IMH Commercial Holdings Inc. said Monday it sold 5.5 million shares at $15 per share in an $82.5-million initial public offering.
The real estate investment trust had expected to sell 5 million shares at $14 to $16, according to its registration statement filed with the Securities and Exchange Commission. The sale, led by Paine-Webber Inc., raised $76.7 million for the company after fees.
The shares sold represent 86.3% of the company.
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