Deal Details
Alexandria Completes $1.7 Billion Follow-On Offering
Summary
Alexandria Real Estate Equities, Inc. ("Alexandria” or the “Company”) (NYSE: ARE) recently completed an upsized follow-on offering of 8,050,000 shares of common stock at a price of $210.00 per share, generating gross proceeds of approximately $1.7 billion. The Company expects to use the net proceeds, if any, to fund pending acquisitions and the construction of highly leased development and redevelopment projects, with any remaining proceeds being held for general working capital and other corporate purposes. Alexandria will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers or their affiliates in the offering.
Baird served as a co-manager on this offering.
About
The Company is a S&P 500® urban office REIT and the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, agtech, and technology campuses in AAA innovation cluster locations. Founded in 1994, the Company pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.CONTACT US TO LEARN MORE
- Date
- January 2022
- Company
- Alexandria Real Estate Equities, Inc.
- Transaction
- Equity Capital Markets
- Sectors
-
Real Estate
Healthcare - Target Geography
- North America
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