InvestmentMay 11, 2026, 08:50 PM
Macerich Prices $403.2M Public Offering of 19.2M Shares
AI Summary
Macerich priced an underwritten public offering of 19,200,000 shares of common stock at $21.00 per share, expecting gross proceeds of approximately $403.2 million. This offering was upsized from the previously announced 16,000,000 shares. The company intends to use the net proceeds to repay borrowings from its revolving credit facility, primarily for the Annapolis Mall acquisition, and for general corporate purposes including acquiring additional properties and funding strategic investments at Annapolis Mall. The offering is expected to close on May 13, 2026.
Key Highlights
- Macerich priced a public offering of 19,200,000 common shares.
- Offering price set at $21.00 per share.
- Expected gross proceeds of approximately $403.2 million.
- Offering was upsized from the previously announced 16,000,000 shares.
- Underwriters have a 30-day option for up to 2,880,000 additional shares.
- Proceeds will repay debt for Annapolis Mall acquisition and fund new property acquisitions.
- Offering expected to close on May 13, 2026.