Hudson Pacific Properties Prices $177.4 Mln Stock Offering

By RTT News, 
A A A
Share |


(RTTNews.com) - Hudson Pacific Properties, Inc. ( HPP ) said Thursday that it has priced an underwritten public offering of 8.25 million shares of common stock at a public offering price of $21.50 per share.

The offering is expected to close on January 28.

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. 

The company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be about $170.3 million, or $195.8 million if the underwriters exercise their option to purchase additional shares in full.

The company plans to contribute the net proceeds from the 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.

Pending those applications, the company's operating partnership plans to use the net proceeds from the offering to temporarily repay indebtedness outstanding from time to time under its senior unsecured revolving credit facility.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com



This article appears in: News Headlines

Referenced Stocks: HPP

RTT News


More from RTT News:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM