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TheStreet Open House

Equity Residential Announces Public Offering Of Common Shares

Stocks in this article: EQR

Equity Residential (NYSE: EQR) announced today that it intends to offer approximately 19 million of its common shares. Morgan Stanley will act as bookrunning manager for the offering. The Company intends to grant the underwriters an option to purchase up to an additional 2.85 million common shares to cover over-allotments, if any.

The Company plans to use the net proceeds from the offering to fund a portion of the cash purchase price for the acquisition of assets of Archstone Enterprise LP, which was also announced today. The closing of the offering is not conditioned upon the consummation of the acquisition. If the acquisition is not consummated, the Company plans to use the net proceeds from the offering for working capital and general company purposes.

The offering of the common shares will be made under the Company’s existing shelf registration statement. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission. When available, the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649 or email: prospectus@morganstanley.com.

A registration statement relating to the common shares has been filed with the Securities and Exchange Commission and has become effective. 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 the common shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offer or sale will be made only by means of a prospectus supplement, prospectus or authorized free writing prospectus which have or will be filed with the Securities and Exchange Commission.

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