|
|
Article: Alexandria Real Estate Equities, Inc. Announces Public Follow-on Offering of 3,000,000 Shares of Common Stock.
- Article from:
- Real Estate Weekly News
- Article date:
- October 9, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Alexandria Real Estate Equities, Inc. (NYSE:ARE) announced that it is commencing an underwritten public offering of 3,000,000 shares of common stock. Barclays Capital, Credit Suisse and UBS Investment Bank are acting as joint bookrunning managers in connection with the public offering. Alexandria Real Estate Equities, Inc. expects to grant the underwriters a thirty-day option to purchase up to 450,000 additional shares to cover over-allotments, if any.
The Company intends to initially use the net proceeds from this offering to reduce the outstanding balance on its unsecured line of credit. The Company may then borrow from time to time under its unsecured line of ...