Avalonbay Communities (AVB) Prices 3.2M Share Offering

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Go back to Avalonbay Communities (AVB) Prices 3.2M Share Offering

AvalonBay Communities, Inc. Prices Public Offering of 3,200,000 Shares of Common Stock

September 5, 2024 7:56 PM EDT

ARLINGTON, Va.--(BUSINESS WIRE)-- AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the Company) announced today that it has priced an underwritten public offering of 3,200,000 shares of common stock, all of which are being offered in connection with the forward sale agreements described below, for expected gross proceeds of approximately $710.4 million.

Goldman Sachs & Co. LLC, BofA Securities, Deutsche Bank Securities Inc. and Morgan Stanley are acting as joint book-running managers for the offering.

The Company has entered into forward sale agreements with Goldman Sachs & Co. LLC, Bank of America, N.A.,... More