Franklin Street (FSP) Prices 6.13M Share Common Stock Offering for Proceeds of ~$72M
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Franklin Street Properties Announces Pricing of Common Stock Offering
August 11, 2016 9:13 AM EDTWAKEFIELD, Mass.--(BUSINESS WIRE)-- Franklin Street Properties Corp. (the Company or FSP) (NYSE MKT: FSP) today announced the pricing of its previously-announced public offering of 6,125,000 shares of its common stock at a price of $12.35 per share, for net proceeds of approximately $72.1 million after underwriting discounts and commissions and estimated offering expenses (or approximately $83.0 million if the underwriters' option to purchase additional shares is exercised in full). FSP has granted the underwriters the option to purchase up to an additional 918,750 shares of common stock. The offering is expected to close on August 16, 2016.
The Company intends to use the net... More
Franklin Street Properties Announces Offering Of 6,125,000 Shares Of Common Stock
August 10, 2016 4:08 PM EDTWAKEFIELD, Mass.--(BUSINESS WIRE)--
Franklin Street Properties Corp. (the Company or FSP) (NYSE MKT: FSP) today announced that it has commenced an underwritten public offering of 6,125,000 shares of its common stock. The underwriters are expected to be granted a 30-day option to purchase up to an additional 918,750 shares.
The Company intends to use the net proceeds of the offering to repay approximately $45.5 million under its senior unsecured revolving credit facility that was recently borrowed in anticipation of funding the acquisition of Pershing Park Plaza, an urban infill Class A office property located at 1420... More
