Corporate ActionMay 13, 2026, 04:28 PM
Macerich Completes $524.16M Common Stock Offering
AI Summary
The Macerich Company completed the issuance and sale of 24,960,000 shares of its common stock at $21.00 per share, including the full exercise of the underwriters' option. This offering generated approximately $524.16 million in gross proceeds. The net proceeds will be used to repay borrowings related to the Annapolis Mall acquisition, fund strategic leasing capital investments at Annapolis Mall, and for general corporate purposes.
Key Highlights
- Macerich completed the sale of 22,080,000 shares of common stock.
- Underwriters fully exercised their option for an additional 2,880,000 shares.
- A total of 24,960,000 shares were issued and sold.
- The public offering price for the shares was $21.00 per share.
- Gross proceeds from the offering totaled approximately $524.16 million.
- Net proceeds will repay borrowings under the revolving credit facility used for the Annapolis Mall acquisition.
- Funds will also be used for general corporate purposes and strategic leasing investments at Annapolis Mall.