Corporate Office Properties Trust (OFC) to Offer 2M Shares
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Corporate Office Properties Trust (NYSE: OFC) announced today that it plans to sell 2,000,000 shares of newly issued common shares in an underwritten public offering. The underwriters will be granted a 30-day option to purchase up to an additional 300,000 shares to cover over-allotments, if any.
The Company plans to use the net proceeds from the sale to fund development costs and other investing activities, as well as for general corporate purposes. Initially, the Company will use the funds to repay amounts outstanding under its unsecured revolving credit facility.
Corporate Office Properties Trust, a real estate investment trust (REIT), engages in the acquisition, development, ownership, management, and leasing of suburban office properties.
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