March 1, 2017
Hudson Pacific Properties, Inc. commenced a public offering of 8.5 million shares of common stock. In SEC filings, the Los Angeles-based REIT also indicated the underwriters have a 30-day option to buy an additional 1.275 million shares.
The offering could generate roughly $340 million, based on a $36-per-share price, and if the underwriters exercise options to purchase additional shares in full. It is expected to close on March 3, 2017.
Proceeds will be used to fund identified and potential future acquisitions, including the buy of Hollywood Center Studios, to repay amounts outstanding under its unsecured revolving credit facility and/or for general corporate purposes.
Joint book-running managers for the offering are Bank of America, Merrill Lynch, Wells Fargo Securities, Goldman, Sachs & Co., BTIG, KeyBanc Capital Markets, Barclays and Morgan Stanley, and the co-manager for the offering is RBC Capital Markets.
For comments, questions or concerns, please contact Dennis Kaiser