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Douglas Emmett launches up to $400M at-the-market equity offering program

Douglas Emmett Inc. set up an at-the-market offering program for up to $400.0 million of its common shares from time to time.

The company aims to use the net proceeds for general corporate purposes, which could include future purchases; development; and repayment of outstanding debt, including borrowings under its credit facility.

The company, Douglas Emmett Management Inc. and Douglas Emmett Properties LP signed an equity distribution agreement with Wells Fargo Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc. and J.P. Morgan Securities LLC for sale of the shares.