Alexandria Real Estate Equities Closes Underwritten Public Offering

Alexandria Real Estate Equities, a leading real estate investment trust specializing in life science, agtech, and technology campuses, has completed its underwritten public offering of 7,000,000 shares of common stock at a public offering price of $210.00 per share. The offering, led by joint book running managers J.P. Morgan, BofA Securities, Citigroup, and others, saw the Company enter into forward sale agreements with several major banks to manage the issuance of shares. The net proceeds from the sale will be used to fund pending acquisitions, construction of highly leased development and redevelopment projects, and general working capital purposes.

Key Takeaways:

• Alexandria Real Estate Equities has closed an underwritten public offering of 7,000,000 shares of common stock at $210.00 per share.
• The Company entered into forward sale agreements with JPMorgan Chase Bank, Bank of America, N.A., Citibank, N.A., and other major banks to manage the issuance of shares.
• Net proceeds from the sale will be used to fund pending acquisitions, construction of highly leased development and redevelopment projects, and general working capital purposes.
• The Company will not initially receive any proceeds from the sale of shares by the forward purchasers or their affiliates in the offering.
• The sale allows the Company to set the price of shares while delaying the issuance and receipt of net proceeds until required.
• Forward-looking statements include the Company's intended use of the proceeds, which may differ from actual results.

Statistics:

• 7,000,000 shares of common stock were sold in the underwritten public offering.
• The public offering price was $210.00 per share.
• The net proceeds from the sale will be used to fund pending acquisitions and development projects, as well as general working capital purposes.

Sources:

• "Alexandria Real Estate Equities, Inc. Closes Underwritten Public Offering" (PRNewswire, Jan. 7, 2022)