Curbline Properties prices 8 million share offering at $204 million

Curbline Properties Corp. (NYSE: CURB) announced the pricing of an underwritten public offering of 8 million shares of common stock for approximately $204 million in gross proceeds before expenses. The offering is expected to close on February 12, 2026, subject to customary closing conditions.

Morgan Stanley and BofA Securities are serving as underwriters for the offering. The underwriters have a 30-day option to purchase up to an additional 1.2 million shares.

The company entered into forward sale agreements with Morgan Stanley and BofA Securities regarding the 8 million shares. Under these agreements, the forward purchasers are expected to borrow shares from third parties and sell them to the underwriters. The company will not receive proceeds from these initial share sales.

Curbline expects to physically settle the forward sale agreements within approximately 18 months from the prospectus supplement date. Upon settlement, the company intends to issue and sell up to 8 million shares to the forward purchasers, or up to 9.2 million shares if the underwriters exercise their option in full.

The company plans to use net proceeds from the settlement for general corporate purposes, including property acquisitions, working capital, capital expenditures, debt repayment, or a combination of these uses.

The shares are being offered under the company's effective shelf registration statement filed with the Securities and Exchange Commission. Curbline Properties is a real estate investment trust that owns and manages convenience shopping centers located at high-traffic intersections in suburban communities with high household incomes.

You May Also Be Interested In

• Manulife prices $750M subordinated notes offering at 6.146%
• Caring Brands closes initial $4.6M of $9M private placement
• Calix names Juergen Lindner as chief marketing officer