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Equity One to Sell 3M Shares of Common Stock

NORTH MIAMI BEACH-The real estate investment trust's shares are being underwritten by Deutsche Bank Securities Inc., and Equity One has granted the firm an option to buy an extra 450,000 shares.

By Melissa Bogdany | Updated on May 15, 2003

NORTH MIAMI BEACH-Equity One Inc., a real estate investment trust based in North Miami Beach, FL, plans to sell 3 million shares of its common stock in an underwritten public offering. The company’s net proceeds from the sale will total about $48.7 million.

The offering is expected to close May 19. Deutsche Bank Securities Inc. is underwriting the shares. Equity One has granted Deutsche Bank Securities the option to buy up to an extra 450,000 shares to cover over-allotments. The stock is being offered through a prospectus supplement under Equity One’s existing shelf registration statement.

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