Capital Automotive prices 1.6 mln shares at $28.95

Newswire

NEW YORK, Aug 24 (Reuters) - Capital Automotive REIT, a company that finances automobile dealer real estate, on Tuesday said it priced a public offering of 1.6 million common shares at $28.95 per share, raising cash to help repay debt and fund future property acquisitions. The McLean, Virginia-based company expects net proceeds of $45.6 million from the sale, scheduled to be completed on Aug. 27. Underwriters were granted an option to purchase an additional 240,000 shares to meet any ...

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