VANCOUVER, Dec. 21, 2017 /PRNewswire/ -- City Office REIT,
Inc. (NYSE: CIO) (the "Company"), announced today the closing of
its underwritten public offering of 5,750,000 shares of its common
stock, including 750,000 shares pursuant to the full exercise of
the underwriters' option, at a public offering price of
$12.60 per share for total gross
proceeds of $72.5 million.
The Company intends to use the net proceeds from the offering
for the repayment of amounts outstanding under its secured credit
facility and for general working capital purposes, including
funding future acquisitions, capital expenditures and
investments.
Raymond James and RBC Capital
Markets acted as the book-running managers for the offering. B.
Riley FBR, D.A. Davidson & Co., Janney
Montgomery Scott and Compass Point acted as co-lead managers
for the offering.
The offering was made only by means of a prospectus supplement
and accompanying prospectus. Copies of the prospectus and the
prospectus supplement relating to the offering 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, or by contacting RBC Capital Markets,
LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th
Floor, New York, New York 10281,
via telephone: (877) 822-4089 or via email:
equityprospectus@rbccm.com.
A registration statement relating to these securities has been
filed with and declared effective by the U.S. Securities and
Exchange Commission on June 12, 2017.
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 5.2 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,
2016, 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.