Brixmor Property Group Establishes ATM Stock Offering Program
NEW YORK, June 8, 2015 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today that it has established an "at the market" stock offering program through which it may sell up to an aggregate of $400 million of its common stock. The stock would be offered through RBC Capital Markets, BNY Mellon Capital Markets, LLC, Jefferies, MUFG, Scotiabank and SunTrust Robinson Humphrey, who will be acting as sales agents.
The program would allow the Company to sell up to $400 million of its common stock from time to time through the sales agents for approximately a three-year period. The sales, if any, would be made in "at the market" offerings as defined in Rule 415 of the Securities Act of 1933. In addition, the common stock may be offered and sold through privately negotiated transactions. The Company intends to use the proceeds from any offering for general corporate purposes.
Michael Pappagallo, President & Chief Financial Officer, stated, "The establishment of an ATM program provides us efficient access to an additional capital source at a low cost. And while we see no immediate need to utilize the ATM program, it is a flexible and alternative mechanism for effective balance sheet management."
The Company has filed a registration statement (including a prospectus) with the SEC for the offering of common stock described in this communication. Before you invest, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or the sales agents will arrange to send you the prospectus if you request it by contacting RBC Capital Markets, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098 or by emailing a request to [email protected]; BNY Mellon Capital Markets, LLC, Attention: Prospectus Department, 101 Barclay Street, 3rd Floor, New York, NY 10286 or by emailing a request to [email protected]; Jefferies, Attention: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022 or by calling 1-877-547-6340 or by emailing a request to [email protected]; MUFG, Attention: Equity Capital Markets, 1633 Broadway, 29th Floor, New York, NY 10019; Scotiabank, Attention: Equity Capital Markets, 250 Vesey Street, New York, NY 10281; SunTrust Robinson Humphrey, Attention: Prospectus Department, 3333 Peachtree Road, 11th Floor, Atlanta, Georgia 30326 or by calling 1-404-926-5744 or by emailing a request to [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security, nor shall there be any sale of the Company's common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Brixmor Property Group
Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 520 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through its ongoing "Raising the Bar" program which involves strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company. For additional information, please visit www.brixmor.com, follow Brixmor on Twitter at www.twitter.com/Brixmor or find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.
Safe Harbor Language
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to the Company's "at the market" stock offering program and the intended use of proceeds therefrom and the Company's expectations regarding the performance of its business, its financial results, its liquidity and capital resources and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
SOURCE Brixmor Property Group Inc.
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