Macerich (MAC) Commences 18M Share Offering

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Go back to Macerich (MAC) Commences 18M Share Offering

Macerich Announces Commencement of Public Offering of Common Stock

November 25, 2024 4:05 PM EST

SANTA MONICA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (the Company or Macerich) announced today that it has commenced an underwritten public offering of 18,000,000 shares of common stock. The Company expects to grant the underwriters a 30-day option to purchase up to 2,700,000 additional shares of its common stock.

The Company intends to use the net proceeds of this offering together with cash on hand, including from recent sales under the Companys at the market offering program, to repay the $478.0 million mortgage loan with a fixed effective interest rate of approximately 9.0%... More