Post Properties, Inc. Announces At-the-Market Offering
31 Maggio 2012 - 3:23PM
Business Wire
Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate
investment trust, today announced that it has filed a prospectus
supplement under which it may sell up to 4,000,000 shares of its
common stock from time to time through J.P. Morgan Securities LLC,
Wells Fargo Securities, LLC, Cantor Fitzgerald & Co. and
Mitsubishi UFJ Securities (USA), Inc., as sales agents. As of May
31, 2012, approximately 136,500 shares of common stock remain
available for issuance under the Company’s existing at-the-market
offering previously announced on February 9, 2010. The Company
expects to sell these remaining shares pursuant to its existing
at-the-market offering before selling any shares pursuant to the
new at-the-market offering announced today.
Sales of common stock under the new at-the-market offering, if
any, would be made by means of ordinary brokers’ transactions on
the New York Stock Exchange at market prices or as otherwise agreed
with the agents. The Company intends to use the proceeds from any
sales for general corporate purposes.
The common stock to be sold in the new at-the-market offering,
if any, will be made pursuant to a prospectus supplement to the
Company’s prospectus, dated May 31, 2012, filed as part of the
Company’s effective registration statement. This press release
shall not constitute an offer to sell or a solicitation of an offer
to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or other
jurisdiction. The at-the-market offering may be made only by means
of a prospectus supplement and the related prospectus.
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Cantor
Fitzgerald & Co. and Mitsubishi UFJ Securities (USA), Inc. are
the sales agents for the new at-the-market offering. Copies of the
prospectus supplement and accompanying prospectus relating to these
securities may be obtained by contacting: J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, telephone: 866-803-9204; Wells Fargo
Securities, LLC, Attention: Equity Syndicate Department, 375 Park
Avenue, New York, New York 10152, telephone: 800-326-5897; Cantor
Fitzgerald & Co., Attention: Equity Capital Markets, 110 East
59th Street, New York, New York, 10022, telephone: 212-829-7122; or
Mitsubishi UFJ Securities (USA), Inc., Attention: Capital Markets
Group, 1633 Broadway, 29th Floor, New York, New York 10019.
About Post Properties
Post Properties, founded more than 40 years ago, is a leading
developer and operator of upscale multifamily communities. The
Company’s mission is delivering superior satisfaction and value to
its residents, associates, and investors, with a vision of being
the first choice in quality multifamily living. Operating as a real
estate investment trust (“REIT”), the Company focuses on developing
and managing Post® branded resort-style garden and high density
urban apartments. Post Properties is headquartered in Atlanta,
Georgia, and has operations in ten markets across the country.
Post Properties has interests in 21,622 apartment units in 58
communities, including 1,471 apartment units in four communities
held in unconsolidated entities and 1,810 apartment units in six
communities currently under development. The Company is also
selling luxury for-sale condominium homes in two communities
through a taxable REIT subsidiary.
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