CBOE Holdings Inc.

04/16/2019 | Press release | Distributed by Public on 04/16/2019 02:40

JBG SMITH Properties Prices 10M Share Public Offering of Common Shares @$42/Share



JBG SMITH Properties Prices 10M Share Public Offering of Common Shares @$42/Share

Charles Gross      4/16/2019 3:03:44 AM

JBG SMITH Properties (NYSE: JBGS) announced the pricing of an underwritten public offering of 10,000,000 common shares at a public offering price of $42.00 per share. The Company has also granted the underwriters a 30-day option to purchase an aggregate of up to an additional 1,500,000 common shares at the public offering price, solely to cover overallotments, if any. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions and other estimated offering expenses, will be approximately $410.6 million, or $472.3 million if the underwriters exercise their option to purchase additional shares in full.

The Company intends to use the net proceeds from the offering to fund development opportunities and for general corporate purposes, which may include paying down indebtedness. The shares are expected to be delivered on or about April 18, 2019, subject to customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on July 2, 2018. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission.

Morgan Stanley, BofA Merrill Lynch and Goldman Sachs & Co. LLC are serving as joint book-running managers for the offering