City Office REIT, Inc. Announces Pricing of 6.625% Series A Preferred Stock Offering

VANCOUVER, Sept. 27, 2016 /PRNewswire/ - City Office REIT, Inc. (NYSE: CIO) (the "Company") announced today the pricing of its upsized underwritten public offering of 4,000,000 shares of its 6.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for gross proceeds of $100,000,000 before deducting underwriting discounts and commissions and estimated offering expenses.  The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Series A Preferred Stock to cover overallotments, if any.  The Company intends to apply to list the Series A Preferred Stock on the NYSE under the symbol "CIO PRA."  The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds from the offering for the acquisition of office properties and for general working capital purposes. 

Raymond James, Wunderlich, D.A. Davidson & Co., Janney Montgomery Scott and Compass Point are acting as book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement filed with and declared effective by the Securities and Exchange Commission (the "SEC"), and only by means of a prospectus supplement and accompanying prospectus.  Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by visiting EDGAR on the SEC's website at www.sec.gov or from Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, via telephone: (800) 248-8863 or via email: [email protected], or Wunderlich Securities, Inc., Attention: Equity Syndicate, 6000 Poplar Avenue, Suite 150, Memphis, TN 38119 or via email at [email protected].

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About City Office REIT, Inc.

City Office REIT is a Maryland corporation focused on acquiring, owning and operating high-quality office properties located primarily in metropolitan areas in the Southern and Western United States.  City Office currently owns or has an interest in 3.5 million square feet of office properties.  The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward-looking Statements

This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws.  All statements that are not statements of historical facts are, or may be deemed to be, forward looking statements.  Forward looking statements reflect our current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. These risks, uncertainties and other factors include factors described in our news releases and filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2015, which has been filed with the Securities and Exchange Commission.  Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements.  The Company does not undertake any obligation to publicly update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.

Contact

City Office REIT, Inc.Anthony Maretic, CFO+1-604-806-3366[email protected]

SOURCE City Office REIT, Inc.