Easterly Government Properties (DEA) Forward Sales Agreements Settled
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Easterly Government Properties, Inc. (NYSE: DEA) announced the settlement of its previously announced forward sales agreements that were entered into by the Company on June 1, 2016, in connection with its common stock offering that closed on June 7, 2016.
On November 29, 2016, the Company physically settled the forward sales agreements by issuing an aggregate of 1,500,000 shares of common stock in exchange for approximately $25.1 million of net proceeds (the “Proceeds”) in accordance with the provisions of the forward sales agreements and after adjustments for the underwriters’ discount, but before deducting offering expenses.
As previously announced, the Company intends to use a portion of the Proceeds to repay borrowings outstanding under the Company’s senior unsecured revolving credit facility, to fund potential acquisition opportunities, for general corporate purposes, or a combination of the foregoing.
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