Glimcher Realty Trust to sell $80 million worth of common shares in public offering

Glimcher Realty to sell $80M in common shares

COLUMBUS, Ohio — Glimcher Realty Trust said Monday it has commenced an offer to sell $80 million worth of its common shares in a public sale.

The Columbus, Ohio-based real estate investment trust said it will use the proceeds to pay down debt and for other expenses.

The underwriters will have the option to buy another 15 percent of the company’s common shares. Goldman Sachs is the sole book-running manager. KeyBanc Capital Markets Inc. is a joint lead-manager.

Glimcher shares fell 22 cents, or 5 percent, to $4.16 in aftermarket trading after closing Monday at $4.38.