By a News Reporter-Staff News Editor at Investment Weekly News -- Brandywine Realty Trust (the "Company") (NYSE: BDN), the sole general partner of Brandywine Operating Partnership, L.P. (the "Operating Partnership"), announced that it has commenced a public offering of 18,000,000 common shares. In addition, the Company expects to grant to the underwriters for the public offering an option for 30 days to purchase up to 2,700,000 additional common shares. BofA Merrill Lynch and Citigroup will serve as the joint book-running managers for the offering and propose to offer the shares at prevailing market prices or otherwise from time to time through the NYSE, the over-the-counter market, negotiated transactions or otherwise.
The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership. The Operating Partnership intends to use the net proceeds for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt.
This offering will be made pursuant to a prospectus supplement being filed today to the Company's prospectus, dated May 6, 2014, filed as part of the Company's effective shelf registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by emailing email@example.com or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146. A copy of the preliminary prospectus supplement and accompanying prospectus may also be obtained without charge by visiting EDGAR on the SEC website at www.sec.gov.
Keywords for this news article include: Banking and Finance, Brandywine Realty Trust.
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