VANCOUVER, Jan. 9, 2017 /PRNewswire/ -- City Office
REIT, Inc. (NYSE: CIO) (the "Company"), announced today that it has
commenced an underwritten public offering of 4,000,000 shares of
its common stock. The Company expects to grant the underwriters a
30-day option to purchase up to an additional 600,000 shares of
common stock.
The Company intends to use the net proceeds from the offering
for the acquisition of office properties, the repayment of amounts
outstanding under its secured credit facility and general working
capital purposes, including funding future acquisitions and
investments.
Raymond James is acting as the
sole book-running manager for the offering. D.A. Davidson & Co., Janney Montgomery Scott and Wunderlich are
acting as co-lead managers for the offering.
The offering may be made only by means of a prospectus
supplement and accompanying prospectus. Copies of the
prospectus and the prospectus supplement relating to the offering,
when available, may be obtained by contacting Raymond James & Associates, Inc., Attention:
Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, via telephone: (800)
248-8863 or via email: prospectus@raymondjames.com.
A registration statement relating to these securities has been
filed with and declared effective by the U.S. Securities and
Exchange Commission on May 18, 2015.
This press release is for informational purposes only and shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of, or any solicitation of an offer to
buy, these securities in any state or 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
jurisdiction.
About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company
focused on acquiring, owning and operating high-quality office
properties located in leading markets in the Southern and Western
United States. City Office currently owns or has an interest
in 4.4 million square feet of office properties. The Company
has elected to be taxed as a real estate investment trust for U.S.
federal income tax purposes.
Forward-looking Statements
This press release contains "forward looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws. All statements that are not statements of
historical facts are, or may be deemed to be, forward looking
statements. Forward looking statements reflect the Company's
current expectations concerning future results, objectives, plans
and goals, and involve known and unknown risks, uncertainties and
other factors that are difficult to predict and which may cause
future results, performance or achievements to differ. These risks,
uncertainties and other factors include factors described in the
Company's news releases and filings with the Securities and
Exchange Commission, including the Company's Annual Report on Form
10-K for the year ended December 31,
2015, which has been filed with the Securities and Exchange
Commission. Readers of this press release are cautioned to
consider these risks and uncertainties and not to place undue
reliance on any forward-looking statements. The Company does
not undertake any obligation to publicly update any forward-looking
statement, whether written or oral, relating to matters discussed
in this press release, except as may be required by applicable
securities laws.
Contact
City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com
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SOURCE City Office REIT, Inc.