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Hudson Pacific Properties Inc announces pricing of public offering of common stock


Thursday, 23 Jan 2014 09:04am EST 

Hudson Pacific Properties Inc:Says the pricing of an underwritten public offering of 8,250,000 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.Says the offering is expected to close on Jan 28 and is subject to customary closing conditions.Says the underwriters have been granted a 30 day option to purchase up to an additional 1,237,500 shares at the public offering price, less the underwriting discount.Says the company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be about $170.3 mln, or $195.8 mln if the underwriters exercise their option to purchase additional shares in full.Says it intends to use net proceeds from this offering to its operating partnership, which will use the net proceeds to fund the recently announced acquisition of Merrill Place, development and redevelopment activities, potential acquisition opportunities and/or for general corporate purposes.Says joint book-running managers for this offering are Wells Fargo Securities, BofA Merrill Lynch, Barclays, Morgan Stanley, and KeyBanc Capital Markets. 

Company Quote

30.05
0.25 +0.84%
26 Dec 2014