Parkway Prices 10.5M Share Offering at $18.15/Share

Parkway Properties

announced today the pricing of its previously announced underwritten public offering of 10,500,000 shares of common stock at a public offering price of $18.15 per share.  The underwriters for the public offering have been granted a 30-day option to purchase up to an additional 1,575,000 shares of common stock at the public offering price, less the underwriting discount.  The Company estimates that net proceeds, after deducting the underwriting discount and estimated offering expenses payable by the Company, will be approximately $182.5 million, or $209.9 million if the underwriters exercise their option to purchase additional shares in full.  The shares are expected to be delivered on or about January 10, 2014, subject to customary closing conditions.