Invitation Homes Inc (NYSE:INVH) reported a 37.5-million share offering by selling shareholders.
The stockholders in question are affiliated with Blackstone, and the offering is expected to result in gross proceeds to the selling stockholders of approximately $1 billion. The offering is expected to close on June 26, subject to customary closing conditions.
Invitation Homes is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering. In addition, none of Invitation Homes' officers or directors are selling any shares of common stock beneficially owned by them in the offering.
Based in Dallas, Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools.
The Company's mission statement, "Together with you, we make a house a home," reflects its commitment to high-touch service that continuously enhances residents' living experiences and provides homes where individuals and families can thrive."
Shares lost 41 cents, or 1.5%, to $27.27
