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Columbia Property Trust Announces Preliminary Results Of Its Modified Dutch Auction Tender Offer

Stocks in this article: CXP

Columbia Property Trust, Inc. (NYSE:CXP) (“Columbia” or the “Company”), one of the nation’s largest office REITs, announced today the preliminary results of its modified “Dutch Auction” tender offer to purchase for cash up to $300,000,000 in value of shares of its common stock, par value $0.01 per share (the “Common Stock”) from its stockholders, which expired at 11:59 p.m., New York City time, on November 8, 2013. Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as the dealer managers for the tender offer.

Based on the preliminary count by Computershare Trust Company, N.A., the paying agent and depositary for the tender offer, a total of 9,570,352 shares of Common Stock were properly tendered and not properly withdrawn at or below the final purchase price of $25.00 per share, including 6,064,499 shares of Common Stock that were tendered through notice of guaranteed delivery. Based on this preliminary count, the 9,570,352 shares of Common Stock properly tendered and not properly withdrawn at or below the final purchase price of $25.00 per share represent approximately 7.1% of the Company’s currently issued and outstanding shares of Common Stock.

In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the paying agent and depositary, Columbia will accept for purchase 9,570,352 shares of Common Stock properly tendered and not properly withdrawn prior to the expiration of the tender offer at a purchase price of $25.00 per share, for an aggregate cost of approximately $239 million, excluding fees and expenses relating to the tender offer. Based on this preliminary count, the 9,570,352 shares of Common Stock to be accepted for purchase in the tender offer represent approximately 7.1% of Columbia’s currently issued and outstanding shares of Common Stock. Based on these preliminary numbers, Columbia anticipates that, following settlement of the tender offer, it will have approximately 124,622,258 shares of Common Stock outstanding.

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