AvalonBay (AVB) To Offer Up to $400M In Shares
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In connection with the commencement of a "continuous equity" offering under which AvalonBay Communities, Inc. (NYSE: AVB) may sell up to an aggregate amount of $400 million of shares of its common stock from time to time during a three-year period in "at the market" offerings or certain other transactions, the Company today filed with the Securities and Exchange Commission a prospectus supplement dated August 12, 2009. The Company may sell the Shares in amounts and at times to be determined by the Company from time to time, but has no obligation to sell any of the Shares in the Offering. Actual sales will depend on a variety of factors to be determined by the Company from time to time, including (among others) market conditions, the trading price of the Company's common stock and determinations by the Company of the appropriate sources of funding for the Company.
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