The Real Deal Miami

Equity One closes public stock offering

The firm sold approximately $15.7M in shares to a single entity
September 16, 2014 04:30PM

EQUITY_LOGOEquity One announced the closing of its $102.5 million stock offering.

The shopping center investor said it is closing its underwritten public offering of 3,825,000 shares of its common stock. The offering generated approximately $88.9 million in net proceeds to the company.

At the time of the closing, Gazit First Generation — an entity affiliated with Equity One’s largest stockholder, Gazit-Globe — purchased 675,000 shares of common stock directly from the company, resulting in net proceeds of approximately $15.7 million.

The firm says it plans to use the proceeds to fund development and redevelopment activities, repay debt and for general corporate purposes. – Christopher Cameron