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Equity One Announces Offering Of 4.1 Million Shares Of Common Stock

Stocks in this article: EQY

Equity One, Inc. (NYSE:EQY), an owner, developer, and operator of shopping centers, announced today that it will issue and sell 3.1 million shares of its common stock in a public offering. An additional 1.0 million shares of its outstanding common stock will be sold in the offering by AH Investments US, LP, a stockholder of the Company. The Company and the selling stockholder will grant the underwriter a 30-day option to purchase up to an additional 465,000 shares of common stock and 150,000 shares of common stock, respectively.

The Company intends to use its net proceeds to reduce the outstanding balance under its unsecured revolving credit facility and for other corporate purposes, including pending and future acquisitions and to fund development and redevelopment activities. The Company will not receive any of the proceeds from the sale of shares of common stock by the selling stockholder.

Barclays is acting as the sole underwriter of the offering.

In addition, MGN (USA), Inc., an entity affiliated with Equity One’s largest stockholder, Gazit-Globe, Ltd., has agreed to purchase directly from the Company an additional 500,000 shares of common stock in a private placement transaction to be consummated simultaneously with and subject to the closing of the public offering.

All shares of common stock, other than the shares of common stock issued in the private placement transaction, will be offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy 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 the registration or qualification under the securities laws of any such state or other jurisdiction. A copy of the prospectus supplement and prospectus related to these securities may be obtained, when available, from Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling toll free at (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com.

ABOUT EQUITY ONE, INC.

As of June 30, 2012, Equity One’s consolidated property portfolio comprised 165 properties consisting of approximately 16.8 million square feet of gross leasable area, including 142 shopping centers, 11 development or redevelopment properties, five non-retail properties and seven land parcels.

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