Key Developments For Thomas Properties Group, Inc.
Thomas Properties Group, Inc. (TPGI.O) (Consolidated Issue listed on NASDAQ Global Market)
Thomas Properties Group, Inc. Announces Postponement Of Common Stock Offering
Thomas Properties Group, Inc. announced that it has postponed its previously announced public offering of 22 million shares of common stock due to unfavorable market conditions.
Thomas Properties Group, Inc. Announces Public Offering of Up To 22 Million Shares of Common Stock
Thomas Properties Group, Inc. announced that it has commenced an underwritten public offering of up to 22.0 million shares of its common stock pursuant to the Company's effective shelf registration statements on Form S-3 filed with the Securities and Exchange Commission (the SEC). UBS Investment Bank and Wells Fargo Securities will serve as joint book-running managers for the offering. The underwriters will also have the option to purchase up to an additional 3.3 million shares of common stock from the company at the public offering price, less underwriting discounts and commissions, within 30 days, solely to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering to repay certain property-level indebtedness and for general corporate purposes, including funding a portion of the Company's share of property capital expenditures and debt paydown requirements in connection with debt refinancings and extensions, and acquisitions of existing debt on an opportunistic basis.
Thomas Properties Group, Inc. Announces Third Quarter 2009 Dividend
Thomas Properties Group, Inc. announced that its Board of Directors has declared its third quarter 2009 dividend of $0.0125 per common share. The dividend will be paid on October 14, 2009 to shareholders of record as of September 30, 2009.
Thomas Properties Group, Inc. Announces Second Quarter 2009 Dividend
Thomas Properties Group, Inc. announced that its Board of Directors has declared its second quarter 2009 dividend of $0.0125 per common share. The dividend will be paid on July 14, 2009 to shareholders of record as of June 30, 2009.
Thomas Properties Group, Inc. Completes New Long Term Financing For Austin Office Portfolio
Thomas Properties Group, Inc. announced that it has reached an agreement with its other partners in the Austin Portfolio partnership, including Lehman Brothers and California State Teachers` Retirement System, that restructures and recapitalizes the financing on the partnership's 3.5 million square foot, 10 property, commercial office portfolio in Austin, Texas. Under this arrangement, Thomas Properties Group, and its other partners in the Austin Portfolio, agreed to restructure a $292.5 million credit facility by replacing the unfunded $100 million commitment with $60 million of new senior secured priority financing contributed by the partners. Proceeds from this new financing are being used to deleverage the portfolio by acquiring at a discount and immediately retiring third-party term loan debt with an $80 million face value, and to provide an ongoing source of capital for leasing and capital improvements.
