Arbor Realty prices $325M 6.25% convertible notes due 2029; to redeem $270M senior notes and repurchase shares

ARBOR REALTY TRUST INC

Upsized offering to $325M (from $300M) of 6.25% convertible senior notes due 2029; initial purchasers have 13-day option for additional $50M.
Conversion rate 164.0016 shares per $1,000 principal; initial conversion price ~$6.10/share, a 12.5% premium over $5.42 close on June 30, 2026.
Proceeds: $11.6M to repurchase 2.1M shares concurrently; $102.7M via prepaid forward for ~18.9M shares; $270M to redeem 4.50% senior notes due Sept 1, 2026.
Settlement expected on or about July 6, 2026; notes mature July 1, 2029, not redeemable by company before maturity.
Prepaid forward with forward counterparty facilitates hedging by note investors; may affect stock price and conversion price.

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