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City Office common stock offering grosses $91.8M

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City Office common stock offering grosses $91.8M

City Office REITInc. completed a public offeringof 8,050,000 common shares.

The offering, pricedat $11.40 per share, generated $91.8 million in gross proceeds and included thefull exercise of the underwriters' overallotment option to buy 1,050,000 shares,according to an April 5 release.

The company, as disclosed earlier, will use the net proceedsto repay certain indebtedness and general working capital purposes, including futureacquisitions, creating reserves for capital expenditures, tenant improvements andleasing commissions.

Deutsche Bank Securities was the offering's sole book-runningmanager, with Janney Montgomery Scott LLC, Wunderlich Securities Inc., Oppenheimer& Co. Inc., D.A. Davidson & Co. and Compass Point Research & TradingLLC serving as joint lead managers.