Brixmor Property Group (BRX) Prices 42.4M Share Secondary Offering for Proceeds of ~$1.2B
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Brixmor Property Group Inc. (NYSE: BRX) announced the pricing of a secondary offering of 42,400,000 shares of its common stock by certain selling stockholders (the "Selling Stockholders") affiliated with Blackstone Real Estate Partners, which is expected to result in gross proceeds to the Selling Stockholders of approximately $1.17 billion. The offering is expected to close on August 16, 2016, subject to customary closing conditions. Upon consummation of this offering and Blackstone's related distribution of its remaining 455,585 shares in the Company to its partners, Blackstone will no longer beneficially own shares in the Company.
Brixmor did not offer any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering. In addition, none of Brixmor's officers or directors sold any shares of common stock in the offering.
J.P. Morgan and Deutsche Bank Securities are serving as underwriters and joint book-running managers for the offering.
The offering of these securities is being made pursuant to an effective shelf registration statement. This offering will be made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866-803-9204, and Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, by email to email@example.com, or by telephone at (800) 503-4611. The final prospectus, when available, may also be accessed through the website of the Securities and Exchange Commission (the "SEC") at www.sec.gov.
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