ORLANDO, Fla., Dec. 3, 2012 /PRNewswire/ -- Parkway Properties, Inc. (NYSE: PKY) announced today that it has commenced an underwritten public offering of 13,500,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,151,700 shares of common stock. The Company intends to use a significant portion of the proceeds of the offering to finance its recently announced acquisitions of NASCAR Plaza and 525 North Tryon in Charlotte, North Carolina; Phoenix Tower in Houston, Texas; and Tower Place 200 in Atlanta, Georgia. In addition, the Company may use a portion of the proceeds of the offering to repay amounts outstanding from time to time under its senior unsecured revolving credit facility and/or for general corporate purposes.
BofA Merrill Lynch, Barclays and Wells Fargo Securities are the joint bookrunners for the offering.
A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This offering is being made pursuant to a prospectus supplement to the Company's prospectus, dated December 5, 2011, filed as part of the Company's effective shelf registration statement relating to these securities. A copy of the preliminary prospectus supplement and accompanying base prospectus relating to these securities can be obtained by contacting the underwriters as follows: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or email at email@example.com; or Barclays, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-888-603-5847, or by email at firstname.lastname@example.org; or 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 email@example.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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts