Equity One Announces Offering of 4.1 Million Shares of Common Stock
Equity One, Inc. (NYSE: EQY) announced today that it will issue and sell 3.1 million shares of its common stock in a public offering. An additional 1.0 million shares of its outstanding common stock will be sold in the offering by AH Investments US, LP, a stockholder of the Company. The Company and the selling stockholder will grant the underwriter a 30-day option to purchase up to an additional 465,000 shares of common stock and 150,000 shares of common stock, respectively.
The Company intends to use its net proceeds to reduce the outstanding balance under its unsecured revolving credit facility and for other corporate purposes, including pending and future acquisitions and to fund development and redevelopment activities. The Company will not receive any of the proceeds from the sale of shares of common stock by the selling stockholder.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.