Simon Property Group Announces Pricing of Public Offering of Common Stock Friday March 20, 9:23 am ET
INDIANAPOLIS, March 20 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. (NYSE: SPG - News) announced today the pricing of its public offering of 15,000,000 shares of common stock at a price of $31.50 per share. Deutsche Bank Securities Inc., Goldman, Sachs & Co. and UBS Investment Bank acted as joint book-running managers of the offering. The Company has granted the underwriters a 30-day option to purchase 2,250,000 additional shares of common stock to cover over-allotments, if any. ADVERTISEMENT
The Company will contribute the net proceeds of the offering to its majority-owned operating partnership subsidiary, Simon Property Group, L.P., which will use the amount contributed to partially repay the outstanding balance of its $3.5 billion unsecured credit facility and for general corporate purposes.
The common stock will be issued pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. When available, copies of the prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting: Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611, or by e-mail at prospectusrequest@list.db.com; Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad St., New York, NY 10004, telephone: 1 (866) 471-2526, facsimile: 1 (212) 902-9316, or prospectus-ny@ny.email.gs.com; or UBS Investment Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171, telephone +1 (888) 827-7275.
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