Hudson Pacific Properties (HPP) Prices 11.5M Offering at $15/Share
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Hudson Pacific Properties, Inc. (NYSE: HPP) has priced an underwritten public offering of 11,500,000 shares of common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission at a public offering price of $15.00 per share.
The offering is expected to close on May 18, 2012 and is subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,725,000 shares at the public offering price, less the underwriting discount. The Company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be approximately $166.1 million, or $190.8 million if the underwriters exercise their option to purchase additional shares in full.
The offering is expected to close on May 18, 2012 and is subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,725,000 shares at the public offering price, less the underwriting discount. The Company estimates that the net proceeds from this offering, after deducting underwriting discounts (before other transaction costs), will be approximately $166.1 million, or $190.8 million if the underwriters exercise their option to purchase additional shares in full.
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