InvestmentJun 17, 2026, 04:21 PM
Macerich to Sell 14M Shares via Forward Sale Agreements
AI Summary
Macerich Company entered into an underwriting agreement and forward sale agreements for the offer and sale of 14,000,000 shares of common stock. The company expects to physically settle these agreements by June 16, 2027, to receive proceeds, with an initial forward price of $23.12325 per share. The net proceeds will be used by the Operating Partnership for future acquisition opportunities and general corporate purposes. The offering closed on June 17, 2026.
Key Highlights
- Macerich entered agreements to offer and sell 14,000,000 shares of common stock.
- Underwriters have a 30-day option to purchase up to an additional 2,100,000 shares.
- Initial forward price for shares is $23.12325 per share.
- Company expects to receive proceeds from physical settlement by June 16, 2027.
- Net proceeds will fund future acquisition opportunities and general corporate purposes.
- The offering of common stock closed on June 17, 2026.
Price Impact
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