MACERICH CO

The Macerich Company announced that underwriters fully exercised their 30-day option to purchase an additional 2,100,000 shares of common stock at $23.12325 per share. This follows the company's earlier offering of 14,000,000 shares. The company entered into additional forward sale agreements for these option shares, with settlement expected by June 16, 2027. Macerich intends to use the net proceeds to fund future acquisition opportunities and for general corporate purposes.

Macerich announced it has begun the search for an official naming rights partner for a redesigned, high-profile gathering space and social hub at Scottsdale Fashion Square. This initiative aligns with the company's strategy to elevate and transform high-traffic retail properties into exceptional third-space destinations. The renovation, which started in January 2026, is expected to be completed before the upcoming holiday season, enhancing a center that attracts over 12 million annual visitors.

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.

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.

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.

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.

The Macerich Company announced the commencement of an underwritten public offering of 16,000,000 shares of common stock. The company also expects to grant the underwriters a 30-day option to purchase up to an additional 2,400,000 shares. Macerich intends to use the net proceeds to repay borrowings under its revolving credit facility, which were primarily used for the acquisition of Annapolis Mall, and for general corporate purposes, including acquiring additional properties and funding strategic leasing investments at Annapolis Mall.

Macerich reported a net loss attributable to the company of $(36.35) million, or $(0.14) per share, for the first quarter of 2026, an improvement from a net loss of $(50.12) million, or $(0.20) per share, in the prior year. Total revenues decreased to $241.54 million from $249.22 million, while total expenses also decreased. The company amended its revolving credit facility to $900 million and managed several mortgage notes, including repaying a $211.51 million loan and extending another $200 million loan.

Macerich reported a net loss attributable to the company of $(36.4) million, or $(0.14) per diluted share, for Q1 2026, an improvement from $(50.1) million in Q1 2025. Adjusted Funds from Operations (FFO) remained flat at $0.34 per diluted share, totaling $92.4 million. The company acquired Annapolis Mall for $272 million and announced a quarterly cash dividend of $0.17 per share. Additionally, Macerich extended a $200 million loan, amended its $900 million revolving credit facility, repaid a $211.5 million loan, and sold $14.5 million in outparcels and land.

Macerich acquired Annapolis Mall, a 1.5 million sq ft Class A retail center, for $260 million, plus an adjacent 13.1-acre vacant Sears parcel for $12 million, totaling $272 million. The company expects a Year 1 NOI yield of 9.2% (10.5% including SNO leases) and a stabilized pro forma yield of 11.0% by 2030. Macerich plans to invest $40 million in leasing capital and funded the acquisition with cash on hand and $150 million from its revolving credit line, aligning with its de-leveraging targets.