MAA (MAA) Announces 1.7 Million Share Offering
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MAA (NYSE: MAA) is offering 1,700,000 shares of common stock in an underwritten public offering. UBS Investment Bank and Jefferies & Company, Inc. will act as joint bookrunning managers for the offering. MAA has also granted the underwriters a 30-day option to purchase up to an additional 255,000 shares of common stock to cover overallotments, if any.
MAA intends to use the net proceeds to partially fund acquisition and development plans for 2012, repay existing indebtedness and other general corporate purposes. All of the shares of common stock are being offered by MAA and will be issued under MAA's currently effective shelf registration statement filed with the Securities and Exchange Commission.
MAA intends to use the net proceeds to partially fund acquisition and development plans for 2012, repay existing indebtedness and other general corporate purposes. All of the shares of common stock are being offered by MAA and will be issued under MAA's currently effective shelf registration statement filed with the Securities and Exchange Commission.
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