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Rouse Properties Inc announces pricing of common stock offering

Tuesday, 7 Jan 2014 06:32pm EST 

Rouse Properties Inc:Says the pricing of an underwritten public offering of 7,000,000 shares of its common stock at a public offering price of $19.50 per share.Says net proceeds of about $130.5 mln after deducting the underwriting discount and estimated offering expenses (or about $150.2 mln if the underwriters' option to purchase additional shares is exercised in full).Says the company has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its common stock.Says all of the shares were offered by the company and will be issued under the company's currently effective shelf registration statement filed with the Securities and Exchange Commission.Says settlement of the offering is subject to customary closing conditions and is expected to occur on Jan. 13.Says the company intends to use the net proceeds received from the offering to repay indebtedness incurred under the company's secured revolving credit facility.Says for general corporate purposes, including future acquisitions, working capital and other needs.Says BofA Merrill Lynch, Barclays, RBC Capital Markets, Credit Suisse and KeyBanc Capital Markets served as joint book-running managers for the offering. 

Company Quote

0.29 +1.62%
19 Dec 2014