Goldman, Sachs & Co. is the bookrunning manager for the offering. While KeyBanc Capital Markets Inc was the join-lead manager.
The underwriters have a 30-day option to purchase an additional 4 million shares.
This common share offering comes on the heels of a $1.3 million net loss to shareholders during the second quarter. As GlobeSt.com reported, the loss to shareholders was due to a $2.1 million reduction in base rents.
At the time, Michael Glimcher, chairman of the board and CEO, told investors, "We continue to navigate through this difficult economic environment with an experienced team and a sharp focus on execution of our business plan."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.