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Hudson Pacific Prices Public Offering

LOS ANGELES—The public investor prices a public offering of 11 million shares of common stock at $31.75 per share, which will generate approximately $335.3 million in net proceeds.

By Kelsi Maree Borland | Updated on January 15, 2015

LOS ANGELES—Hudson Pacific Properties has priced a public offering of 11 million shares at $31.75 per share. The offering includes a 30-day underwriter’s option to purchase an additional 1.65 million shares. The offering closes on January 20, 2015, and is subject to customary closing conditions.

Hudson Pacific expects to earn approximately $335.3 million in net proceeds from the offering, or $386.5 million if the underwriter option is exercised. Hudson Pacific plans to use the net proceeds to fund a portion of its purchase of Equity Office Properties‘ San Francisco Peninsula and Silicon Valley portfolio. The portfolio was purchased through Hudson’s operating partnership. If for some reason this transaction is not complete, the proceeds will be used to fund development and redevelopment projects, potential investment opportunities or for general corporate purposes.

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