SECURITIES AND EXCHANGE COMMISSION
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Item 1.01 Entry into a Material Definitive Agreement.
On June 14, 2021, Arbor Realty Trust, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”), among the Company, Arbor Realty Limited Partnership and J.P. Morgan Securities LLC and JMP Securities LLC, as representatives of the underwriters named therein (the “Underwriters”), for the issuance and sale by the Company of 6,000,000 shares of its common stock, par value $0.01 per share (the “Common Stock”). The Underwriters agreed to purchase the Common Stock from the Company at a price of $18.46 per share, resulting in approximately $110.6 million of total net proceeds, after deducting the estimated expenses of this offering, to the Company. In addition, the Company granted the Underwriters an option for 30 days to purchase up to an additional 900,000 shares of Common Stock. The Underwriting Agreement includes customary representations, warranties, covenants and closing conditions. It also provides for customary indemnification by each of the Company and certain affiliated entities and the Underwriters against certain liabilities and customary contribution provisions in respect of those liabilities. The transaction contemplated by the Underwriting Agreement closed on June 17, 2021.
The offering and sale of Common Stock were made pursuant to a preliminary prospectus supplement and final prospectus supplement related to the Company’s effective shelf registration statement on Form S-3 (File No. 333-242377), each of which have been filed with the Securities and Exchange Commission. A copy of the Underwriting Agreement is filed as Exhibit 1.1 hereto and incorporated herein by reference. The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement. The legal opinion of Venable LLP relating to the legality of the Common Stock is attached as Exhibit 5.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
|1.1||Underwriting Agreement, dated June 14, 2021, by and among Arbor Realty Trust, Inc., Arbor Realty Limited Partnership, J.P. Morgan Securities LLC and JMP Securities LLC|
|5.1||Opinion of Venable LLP|
|23.1||Consent of Venable LLP (included in Exhibit 5.1)|
|104||The cover page of this Current Report on Form 8-K, formatted in Inline XBRL|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|ARBOR REALTY TRUST, INC.|
|By:||/s/ Paul Elenio|
|Title:||Chief Financial Officer|
Date: June 17, 2021