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

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

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022


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.