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EXCEL TRUST, INC. FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits

June 25, 2014

Item 8.01. Other Events.



On June 20, 2014, Excel Trust, Inc. (the "Company") entered into an underwriting agreement with Barclays Capital Inc. and Raymond James & Associates, Inc., as representatives of the underwriters (the "Underwriters"), pursuant to which the Company agreed to issue and sell 11,000,000 shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), plus up to an additional 1,650,000 shares of Common Stock pursuant to the Underwriters' 30-day option to purchase additional shares, at a price to the public of $13.25 per share. The Underwriters exercised their option to purchase additional shares in full on June 23, 2014. The offering closed on June 25, 2014. Net proceeds from the offering of an aggregate of 12,650,000 shares, after deducting underwriting discounts and estimated offering expenses, were approximately $160.6 million.

The Company intends to use the net proceeds of the offering to partially fund certain property acquisitions which the Company has recently placed under contract, and for other general corporate and working capital purposes. These acquisitions are subject to the completion of due diligence and the satisfaction of other closing conditions. There can be no assurances that these conditions will be satisfied or that the acquisitions will close on the terms described, or at all.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. Exhibit Number Description of Exhibit 1.1 Underwriting Agreement, dated as of June 20, 2014, among Excel Trust, Inc., Excel Trust, L.P. and Barclays Capital Inc. and Raymond James & Associates, Inc., as representatives of the Underwriters 5.1 Opinion of Ballard Spahr LLP 23.1 Consent of Ballard Spahr LLP (contained in the opinion filed as Exhibit 5.1 hereto)



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Source: Edgar Glimpses


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