Whitestone REIT (WSR) Prices 4.2M Offering at $12.80/Share


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August 23, 2012 9:22 AM EDT Send to a Friend
Whitestone REIT (NYSE: WSR), has priced its public offering of 4,200,000 common shares at a price to the public of $12.80 per share. The offering was increased in size from the originally contemplated 4,000,000 common shares. The underwriters have been granted a 30-day option to purchase up to an additional 630,000 common shares at the public offering price, less the underwriting discount and commissions, to cover over-allotments, if any. The net proceeds to Whitestone, after deducting the underwriting discount and estimated offering expenses, are expected to be approximately $50.91 million (exclusive of the underwriters’ over-allotment option). The offering is expected to close on August 28, 2012, subject to customary closing conditions.

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