July 22, 2016
Los Angeles-based Hudson Pacific Properties plans a public offering of roughly 20 million shares of common stock that will go towards repurchasing shares held by Blackstone Group and Farallon Funds. The REIT is expected to realize more than $585 million in gross proceeds, less underwriting discounts, commissions and offering expenses.
Upon completion of the offering, Blackstone and the Farallon Funds will own approximately 23.6% and 2% of Hudson Pacific, respectively. The company says it will not receive any of the proceeds from the sale of the shares of common stock in this offering by the Farallon Funds.
BofA Merrill Lynch is acting as the sole underwriter for the offering.
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