UPDATE: Hudson Pacific Properties, Inc. Announces Public Offering of 3.5M Shares of Common Stock by Selling Stockholders
Hudson Pacific Properties, Inc. (the “Company”) (NYSE: HPP) today announced an underwritten public offering of 3,511,845 shares of its common stock to be sold by certain funds affiliated with Farallon Capital Management, L.L.C. The Company will not receive any of the proceeds from the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering is being made pursuant to a prospectus supplement to the Company's prospectus, dated September 16, 2011, filed as part of the Company's effective shelf registration statement relating to these securities.
BofA Merrill Lynch and Wells Fargo Securities are the joint book-running managers for the offering. A copy of the preliminary prospectus supplement and accompanying prospectus relating to these securities can be obtained, when available, by contacting BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attn: Prospectus Department or by emailing email@example.com; or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mailing firstname.lastname@example.org.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in the Pacific Northwest and Northern and Southern California. The Company's strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets, including Los Angeles, Orange County, San Diego, San Francisco and Seattle. The Company's portfolio currently consists of approximately 6.4 million square feet, not including undeveloped land that the Company believes can support an additional 1.9 million square feet. The Company has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Hudson Pacific Properties is a component of the Russell 2000® and the Russell 3000® indices.
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission on March 3, 2014, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.