Thomas Properties (TPGI) Postpones Stock Offering
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Thomas Properties Group, Inc. (NASDAQ: TPGI) announced late Tuesday that is has postponed its previously announced public offering of 22 million shares of common stock due to unfavorable market conditions.
“We believe that the current market conditions are not favorable to continue with the offering at this time. The company's management team and board of directors do not consider the current market price of the company's common stock to be reflective of its inherent value,” said James A. Thomas, the Chairman, Chief Executive Officer and President of Thomas Properties Group, Inc.
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