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March 19, 2013 /PRNewswire/ -- Parkway Properties, Inc. (NYSE:PKY) announced today that it has commenced an underwritten public offering of 10,000,000 shares of common stock. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of common stock. The Company intends to use the net proceeds of the offering to redeem in full all of its outstanding 8.00% Series D Cumulative Redeemable Preferred Stock, to fund potential acquisition opportunities, to repay amounts outstanding from time to time under its senior unsecured revolving credit facility and/or for general corporate purposes.
BofA Merrill Lynch and Wells Fargo Securities are the joint lead-bookrunners for the offering, and KeyBanc Capital Markets and RBC Capital Markets 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 preliminary 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 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 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
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.