Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 10:36 PM
|This Slide: #264 of 581|
Slide #264. City Office REIT, Inc. — Preferred Stock Offering
City Office REIT, Inc. (NYSE:CIO)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
City Office REIT, Inc. (NYSE: CIO) (the "Company") announced today the pricing of its upsized underwritten public offering of 4,000,000 shares of its 6.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for gross proceeds of $100,000,000 before deducting underwriting discounts and commissions and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Series A Preferred Stock to cover overallotments, if any. The Company intends to apply to list the Series A Preferred Stock on the NYSE under the symbol "CIO PRA." The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.
City Office REIT is engaged in owning, operating and acquiring office properties located in the Southern and Western United States. Co. owns office complexes in the metropolitan areas of Dallas, Denver, Orlando, Phoenix, Portland, San Diego, Seattle and Tampa.
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Buy (2.83 out of 4)
(ranked lower than approx. 86% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com