Thomas Property (TPGI) Announces 22M Common Shelf

November 2, 2009 4:55 PM EST

Thomas Properties Group, Inc. (NASDAQ: TPGI) announced today that it has commenced an underwritten public offering of up to 22.0 million shares of its common stock pursuant to the company’s effective shelf registration statements on Form S-3 filed with the Securities and Exchange Commission (the “SEC”).

UBS Investment Bank and Wells Fargo Securities will serve as joint book-running managers for the offering. The underwriters will also have the option to purchase up to an additional 3.3 million shares of common stock from the company at the public offering price, less underwriting discounts and commissions, within 30 days, solely to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The company intends to use the net proceeds from the offering to repay certain property-level indebtedness and for general corporate purposes, including funding a portion of the company’s share of property capital expenditures and debt paydown requirements in connection with debt refinancings and extensions, and acquisitions of existing debt on an opportunistic basis.

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• UBS
• S3

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