IRT 424B3: Acquisition

Filed with the SEC on Oct 7, 2026 · accession 0001437749-26-032318

IRT filed a 424B3 (prospectus (offering)) with the SEC on Oct 7, 2026. Independence Realty Trust (IRT) and Centerspace (CSR) have agreed to merge, with CSR shareholders receiving 3.800 shares of IRT common stock per CSR share, representing a 14.70% premium based on pre-announcement prices. The stock moved -2.0% by the first close after the filing.

Summary of the filing

Independence Realty Trust (IRT) and Centerspace (CSR) have agreed to merge, with CSR shareholders receiving 3.800 shares of IRT common stock per CSR share, representing a 14.70% premium based on pre-announcement prices. The combined company will own 163 apartment communities with over 44,000 units across 17 states.

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Key details

Exchange ratio for CSR shares to IRT sharesshares 4

Implied value per CSR share based on IRT closing price on September 8, 2026$60

Premium to CSR closing price on September 8, 2026percent 15

Number of IRT shares expected to be issued in the mergershares 64.2M

AcquirerIndependence Realty Trust, Inc.

TargetCenterspace

Target operating partnershipCenterspace, LP

Acquirer operating partnershipIndependence Realty Operating Partnership, LP

Merger subsidiaryIslanders OP Sub, LLC

Merger subsidiaryIslanders Sub, LLC

How IRT stock reacted

Close before

$14.73

Oct 6, 2026

First close after

-1.97%

$14.44

5 trading days

+0.81%

$14.85

Since filing

+1.83%

$15.00

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Frequently asked questions

What did IRT file with the SEC on Oct 7, 2026?

IRT filed a 424B3 (Acquisition). Independence Realty Trust (IRT) and Centerspace (CSR) have agreed to merge, with CSR shareholders receiving 3.800 shares of IRT common stock per CSR share, representing a 14.70% premium based on pre-announcement prices. The combined company will own 163 apartment communities with over 44,000 units across 17 states.

What does a acquisition mean for IRT stock?

A contract important enough that investors need to know about it — a big customer contract, a loan, a merger agreement or a partnership.

How do I read a 424B3?

The final terms of an offering of shares or bonds. Look at price, number of shares and the discount to the market price. Large offerings dilute existing shareholders.

Why are SEC filings important?

Public companies must tell the SEC about anything that can change their value — results, leadership changes, big deals, new shares, bankruptcy. Filings are the official source, often before the news. A 424B3 (prospectus (offering)): The final terms of an offering of shares or bonds.

How did IRT stock react to this filing?

IRT closed at $14.73 before the filing and $14.44 on Oct 7, 2026 (-1.97%). Five trading days later: $14.85 (+0.81%).

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