Post Properties (PPS) Announces 4M Share At-the-Market Offering
Post Properties, Inc. (NYSE: PPS) today announced that it has filed a prospectus supplement under which it may sell up to 4 million shares of its common stock from time to time through J.P. Morgan Securities, Inc. and Cantor Fitzgerald & Co., as sales agents.
Sales of common stock under the at-the-market offering, if any, would be made by means of ordinary brokers' transactions on the New York Stock Exchange at market prices or as otherwise agreed with the agents. The Company intends to use the proceeds from any sales for general corporate purposes.
The common stock to be sold in the at-the-market offering, if any, will be made pursuant to a prospectus supplement to the Company's prospectus, dated December 21, 2009, filed as part of the Company's effective registration statement. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The at-the-market offering may be made only by means of a prospectus supplement and the related prospectus.
J.P. Morgan and Cantor Fitzgerald & Co. are the sales agents for the at-the-market offering.
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