Vornado Realty Trust Announces $1 Billion Common Share Offering

Strategic Insights -

Vornado Realty Trust, a fully-integrated equity real estate investment trust, has announced a public offering of 8,100,000 common shares, securing approximately $1 billion in net proceeds. The offering, led by underwriters Lehman Brothers and J.P. Morgan, grants the underwriters an option to purchase an additional 1,215,000 common shares to cover over-allotments.

Key Takeaways:

  • Vornado Realty Trust has priced a public offering of 8,100,000 common shares, with net proceeds of approximately $1 billion.
  • The offering is led by underwriters Lehman Brothers and J.P. Morgan, which have been granted an option to purchase up to an additional 1,215,000 common shares.
  • The prospectus supplement and prospectus relating to the offering can be obtained from Lehman Brothers or JPMorgan.
  • The offering is being made pursuant to a prospectus supplement to Vornado's effective universal shelf registration statement.
  • A registration statement relating to the securities has been filed and declared effective by the Securities and Exchange Commission.
  • Vornado Realty Trust is a fully-integrated equity real estate investment trust.
  • The company's forward-looking statements are made under the Private Securities Litigation Reform Act, and involve risks and uncertainties detailed in Vornado Realty Trust's public filings with the Securities and Exchange Commission.

Statistics:

  • 8,100,000: Number of common shares offered in the public offering
  • $1 billion: Net proceeds from the offering
  • 1,215,000: Number of additional common shares that underwriters can purchase to cover over-allotments
  • 30 days: Option period for underwriters to purchase additional common shares
  • 1155 Long Island Avenue, Edgewood, NY 11717: Address of Lehman Brothers Inc. for prospectus complaints
  • 631-254-7268: Fax number for contacting Lehman Brothers Inc.
  • 1-866-430-0686: Toll-free phone number for contacting JPMorgan

Sources:

  • Vornado Realty Trust press release
  • Prospectus supplement to Vornado's effective universal shelf registration statement
  • Registration statement relating to these securities filed and declared effective by the Securities and Exchange Commission