Tanger Factory Outlet Centers prices common share offering

Tanger prices common share offering

GREENSBORO, N.C. — Tanger Factory Outlet Centers Inc. said Tuesday that it has priced its offering of 3 million of its common shares at $35 a share.

The company is allowing up to 450,000 additional shares to be made available for overallotments.

The company plans to use the roughly $101.5 million proceeds to repay lines of credit and for general corporate purposes.

Shares of the outlet mall operator opened at $36 and were down $2.69 to $35.42 by midmorning trading.