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Hudson Pacific Properties, Inc. Announces Closing Of Public Offering Of Common Stock And Exercise Of Underwriters’ Option To Purchase Additional Shares

Stocks in this article: HPP

Hudson Pacific Properties, Inc. (the “Company”) (NYSE:HPP) today announced the completion of its public offering of 13,225,000 shares of its common stock (including 1,725,000 shares of its common stock issued and sold pursuant to the exercise of the underwriters’ option to purchase additional shares in full) at the public offering price of $15.00 per share.

The net proceeds from the offering, after deducting underwriting discounts (before other transaction costs), were approximately $190.8 million.

The Company intends to contribute the net proceeds from the offering to its operating partnership, which will subsequently use the proceeds from the offering to repay indebtedness under its secured revolving credit facility, to finance the recently announced acquisitions of 901 Market Street and the Olympic Bundy properties, and for general corporate purposes .

Wells Fargo Securities, BofA Merrill Lynch, Barclays and Morgan Stanley were the joint book-running managers for the offering. The co-managers of the offering were KeyBanc Capital Markets and BMO Capital Markets.

A copy of the final prospectus supplement and accompanying prospectus relating to these securities can be obtained by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mail a request to cmclientsupport@wellsfargo.com; or BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn: Prospectus Department or email dg.prospectus_requests@baml.com; or Barclays, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-888-603-5847, or by email at  barclaysprospectus@broadridge.com; or Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, 2 nd Floor, New York, New York 10014, or by calling (866) 718-1649, or by email at  prospectus@morganstanley.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

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