trending Market Intelligence /marketintelligence/en/news-insights/trending/p8inczh5ll_auugwo2fmlq2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Franklin Street's 6,125,000 common-share offering prices

Brazil Pay TV Down Record Amount In 2019, With Losses Continuing In Q1'20

Case Study: Transforming Sales Enablement Data at a Global Advertising and Media Firm

Impact of COVID 19 on US Video Entertainment Trends

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Franklin Street's 6,125,000 common-share offering prices

FranklinStreet Properties Corp.'s public offering of 6,125,000 commonshares priced at$12.35 apiece.

Net proceeds, including underwriting discounts and commissionsand estimated offering expenses, are estimated to be about $72.1 million. Thefigure could total $83.0 million if the underwriters exercise their option tobuy up to an additional 918,750 shares of common stock.

Net proceeds are expected to be used to repay roughly $45.5million under the company's senior unsecured revolving credit facility. Thecompany borrowed that amount recently in connection with its of Pershing Park Plaza in Atlanta. Netproceeds will also be utilized to fund estimated redevelopment costs of $15million to $20 million at 801 Marquette Ave. South in Minneapolis. According to FranklinStreet, the offering is not subject to the redevelopment of the property.

The offering is expected to close Aug. 16.

Baird and BMO Capital Markets are acting as active bookrunners, Stifel is the passive book runner and Wunderlich is senior co-managerfor the offering. BTIG, Capital One Securities, PNC Capital Markets LLC and TDSecurities are serving as co-managers.