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Pennsylvania Real Estate Investment Trust Closes Common Share Offering


Monday, 6 May 2013 11:20am EDT 

Pennsylvania Real Estate Investment Trust announced that it has closed the previously announced underwritten public offering of 11,500,000 of its common shares of beneficial interest, including the fully exercised option granted to the underwriters to purchase an additional 1,500,000 common shares, at $20.00 per share. The joint book-running managers for this offering were Wells Fargo Securities, BofA Merrill Lynch, Citigroup and J.P. Morgan. The offering generated net proceeds to the Company of approximately $220.3 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to repay amounts outstanding under the Company's 2013 Revolving Facility and for other general corporate purposes. 

Company Quote

22.83
0.16 +0.71%
21 Nov 2014