Corporate ActionJun 15, 2026, 09:08 PM
Macerich Prices 14M Share Public Offering at $23.90 Per Share
AI Summary
Macerich Company announced the pricing of an underwritten public offering of 14,000,000 shares of common stock at $23.90 per share. The offering involves forward sale agreements with Goldman Sachs & Co. LLC, Deutsche Bank AG, JPMorgan Chase Bank, and Morgan Stanley, allowing the company to delay the issuance of shares and receipt of proceeds until closer to funding requirements. The company intends to use the net proceeds from the future settlement of these agreements for future acquisition opportunities and general corporate purposes. The offering is expected to close on June 17, 2026.
Key Highlights
- Macerich priced an underwritten public offering of 14,000,000 shares of common stock.
- The shares were priced at $23.90 per share.
- Goldman Sachs & Co. LLC is serving as the lead bookrunner.
- Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, BMO Capital Markets, TD Securities, and Scotiabank are joint bookrunning managers.
- The company is entering into forward sale agreements with Goldman Sachs, Deutsche Bank, JPMorgan Chase Bank, and Morgan Stanley.
- Underwriters have a 30-day option to purchase up to an additional 2,100,000 shares.
- The offering is expected to close on June 17, 2026.
- Net proceeds from future settlement will fund future acquisition opportunities and general corporate purposes.
Price Impact
More from MAC