Market Overview

PS Business Parks Prices 1.3M Share Offering at $79.25/Share


PS Business Parks (NYSE: PSB) today announced the pricing of its
public offering of 1,300,000 shares of its common stock at a price of
$79.25 per share, resulting in gross proceeds of approximately $103.0
million before the underwriting discount and estimated offering
expenses. PS Business Parks has granted the underwriter the option to
purchase up to an additional 195,000 shares of common stock. The
offering is expected to close on November 7, 2013, subject to customary
closing conditions. All of the shares were offered by PS Business Parks
and will be issued pursuant to PS Business Parks' currently effective
shelf registration statement filed with the Securities and Exchange
Commission. In addition, Public Storage has agreed separately to
concurrently purchase 950,000 shares

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Posted-In: M&A News Guidance Offerings Management Global