trending Market Intelligence /marketintelligence/en/news-insights/trending/1Ty8Hiap2XNKXr1TQgibmA2 content esgSubNav
In This List

City Office REIT launches 4 million-common-share public offering

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


City Office REIT launches 4 million-common-share public offering

City Office REIT Inc. is selling 4.0 million common shares in an underwritten public offering.

The company expects to grant a 30-day option to the underwriters to acquire up to 600,000 additional shares.

Based on the company's closing stock price of $13.15 per share on Dec. 18, gross proceeds, including the additional-share option, are expected to total about $60.5 million.

City Office plans to use the net proceeds for the repayment of amounts outstanding under its secured credit facility and for general working capital purposes.

Raymond James and RBC Capital Markets are the book-running managers, with D.A. Davidson & Co., B. Riley FBR, Janney Montgomery Scott and Compass Point serving as co-lead managers for the offering.