Columbia Property Trust, Inc. (NYSE: CXP) (“Columbia” or the “Company”), one of the nation’s largest office REITs, announced today the final 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 final count by Computershare Trust Company, N.A., the paying agent and depositary for the tender offer, a total of 9,362,488 shares of Common Stock were properly tendered and not properly withdrawn at or below the final purchase price of $25.00 per share, including 5,889,761 shares of Common Stock that were tendered through notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, and based on the final count by the paying agent and depositary, Columbia will accept for purchase 9,362,488 shares of Common Stock properly tendered and not properly withdrawn prior to the expiration of the tender offer at a purchase price of $25.00 per share, for an aggregate cost of approximately $234 million, excluding fees and expenses relating to the tender offer.
Payment for the shares of Common Stock accepted for purchase under the tender offer will occur promptly, in accordance with applicable law.Based on this final count, the 9,362,488 shares of Common Stock to be accepted for purchase in the tender offer represent approximately 7.0% of Columbia’s currently issued and outstanding shares of Common Stock. Upon settlement of the tender offer, Columbia will have approximately 124,830,122 shares of Common Stock outstanding. About Columbia Property Trust One of the nation’s largest office REITs, Columbia Property Trust invests in high-quality commercial office properties in primary markets nationwide and has achieved an investment-grade rating from both Moody's and Standard & Poor’s rating services. Currently, the REIT’s $5 billion portfolio consists of 59 operational buildings in 13 states and the District of Columbia, totaling 16.8 million square feet. For information about Columbia Property Trust, visit www.ColumbiaPropertyTrust.com. Important Information This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of the Company. Questions and requests for assistance by retail stockholders may be directed to Georgeson Inc. at (877) 278-9670 (toll free). Questions and requests for assistance by institutional stockholders may be directed to Morgan Stanley & Co. LLC and Goldman, Sachs & Co., the Dealer Managers for the Tender Offer, at: (888) 726-2634 (Morgan Stanley toll free) or (800) 323-5678 (Goldman Sachs toll free).
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