LOS ANGELES—Hudson Pacific Properties, Inc. has commenced an underwritten public offering of 7,500,000 shares of common stock pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission. The company intends to grant the underwriters a 30-day option to purchase up to an additional 1,125,000 shares at the public offering price, less the underwriting discount.
The company intends to contribute the net proceeds from this offering to its operating partnership, which will subsequently use the net proceeds to fund development or redevelopment activities, fund potential acquisition opportunities, repay borrowings outstanding under its unsecured revolving credit facility and for general corporate purposes.
BofA Merrill Lynch, Wells Fargo Securities, Barclays and Morgan Stanley are the joint book-running managers for the offering. KeyBanc Capital Markets is a lead manager for the offering.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
