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