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Corporate Office Properties Prices Offering

The Associated Press

COLUMBIA, Md. (AP) — Real-estate investment trust Corporate Office Properties Trust on Wednesday priced a public offering of 2.6 million common shares at $24.35 each.

Originally, the company planned to offer 2.1 million shares. Underwriters have an option to buy an additional 390,000 shares over the next 30 days.

Net proceeds are expected to be $63 million to $73 million, depending on how many shares underwriters buy. The company plans to use proceeds to repay borrowings under its unsecured revolving credit facility and for general corporate purposes.

The offering is expected to close April 7.