Equity LifeStyle Properties (ELS) To Offer 4M Shares
Equity LifeStyle Properties, Inc. (NYSE: ELS) commenced an underwritten public offering of 4,000,000 shares of common stock. Merrill Lynch & Co. and Wachovia Securities are acting as joint book-running managers of the public offering. The underwriters will be granted a thirty-day option to purchase up to 600,000 additional shares of common stock to cover overallotments, if any.
The Company intends to use the net proceeds from this offering to repay secured long-term debt and for general corporate uses.
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