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Provider: Pechala's Reports
Provider: Pechala's Reports
Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Hudson Pacific Properties Inc Announces Pricing Of Public Offering Of Common Stock

Thursday, 7 Feb 2013 09:15am EST 

Hudson Pacific Properties Inc announced the pricing of an underwritten public offering of 8,000,000 shares of common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission at a public offering price of $21.50 per share. The offering is expected to close on February 12, 2013 and is subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 shares at the public offering price, less the underwriting discount. The Company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be approximately $165.1 million, or $189.9 million if the underwriters exercise their option to purchase additional shares in full. The Company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds to fund development or redevelopment activities, fund potential acquisition opportunities, repay borrowings outstanding under its unsecured revolving credit facility and for general corporate purposes. BofA Merrill Lynch, Wells Fargo Securities, Barclays and Morgan Stanley are the joint book-running managers for the offering. KeyBanc Capital Markets and BMO Capital Markets are the lead managers for the offering. 

Company Quote

-0.24 -0.93%
11 Jul 2014