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Hudson Pacific stock offering prices

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Hudson Pacific stock offering prices

Hudson PacificProperties Inc. said an offering of 20.0 million of its commonshares were priced. The company announced the offering earlier July 18, indicating 16.0million shares would be sold.

The company is selling 19,195,373 shares and expects $585.1million of gross proceeds. It plans to put those funds toward acquiring 19.0million common units of limited partnership interest in its operatingpartnership, Hudson Pacific Properties LP, from -affiliated partiesand funds affiliated with Farallon Capital Management LLC. The Farallon funds areoffering 804,627 shares in the offering.

Once the offering is closed, Blackstone and theFarallon Funds will own approximately 23.6% and 2.0% of Hudson Pacific,respectively.

BofA Merrill Lynch is the offering's sole underwriter.