SANTA ANA HEIGHTS — IMH Commercial Holdings Inc. said Monday it sold 5.5 million shares at $15 per share in an $82.5-million initial public offering.
The real estate investment trust had expected to sell 5 million shares at $14 to $16, according to its registration statement filed with the Securities and Exchange Commission. The sale, led by Paine-Webber Inc., raised $76.7 million for the company after fees.
