Empire State Realty Trust Inc Announces Closing of Initial Public Offering and Full Exercise of Over-Allotment Option by Underwriters


Monday, 7 Oct 2013 04:01pm EDT 

Empire State Realty Trust Inc announced the closing of its initial public offering of 82,225,000 shares of its Class A common stock at a public offering price of $13.00 per share, which includes the exercise in full of the underwriters` option to purchase up to 10,725,000 shares of Class A common stock. All of the common stock was offered by the Company. The Class A common stock is listed on the New York Stock Exchange under the trading symbol ESRT. The net proceeds of the offering are approximately $884.1 million, after deducting underwriting discounts and commissions and estimated offering expenses. The Company intends to use the net proceeds from the offering primarily to fund certain formation transaction costs and fees, and make cash payments to holders of interests in the existing entities, including the Helmsley estate. Goldman, Sachs & Co. and BofA Merrill Lynch acted as joint book-running managers for the offering. 

Company Quote

17.7
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27 Feb 2015