NEW YORK CITY-American Realty Capital Properties Inc. has closed its initial public offering at a price of $12.50 per share, SEC filings show. After launching the IPO in July 2011, the company has sold a total of 5.58 million shares of common stock for proceeds of $69.8 million, and declared an annual dividend of $0.875 per share.

“This was an extraordinary execution,” says Nicholas S. Schorsch, chairman and CEO of the company, in a prepared statement following the closing. “We succeeded in completing our IPO in the midst of a substantial economic correction and a series of natural disasters which affected New York City. This is a strong testament to both our team and the quality of the offering.”

The shares were sold through the company’s affiliated broker/dealer, Realty Capital Securities LLC and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. as the co-dealer managers of the offering. The shares began trading on the NASDAQ capital market under “ARCP” on Sept. 7.