Cousins Properties Prices Public Offering of 63,571,336 Shares of Common Stock
Staff Report From Metro Atlanta CEO
Thursday, February 23rd, 2017
Cousins Properties Incorporated announced that it and certain existing shareholders affiliated with TPG Global, LLC have priced an underwritten public offering of 63,571,336 shares of its common stock. 25,000,000 shares are being offered by the Company for expected gross proceeds of $214.0 million before underwriting discounts and estimated offering expenses payable by the Company, and an aggregate of 38,571,336 shares are being offered by TPG for expected gross proceeds of $330.2 million before underwriting discounts and estimated offering expenses payable by TPG. Subject to customary conditions, the offering is expected to close on February 27, 2017.
Morgan Stanley & Co. LLC will serve as the sole book-running manager for the offering.
This offering will be made pursuant to a prospectus supplement to the Company's prospectuses dated January 4, 2017, filed as part of the Company's effective shelf registration statements relating to these securities. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the shares described herein or any other securities, nor shall there be any sale of these shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction. The offering may be made only by means of a prospectus supplement and the related prospectuses.