City Office REIT, Inc. Announces Exercise of Underwriters' Overallotment Option
VANCOUVER, Dec. 23, 2014 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) (the "Company"), announced today that in connection with its public offering, the underwriters have exercised their overallotment option to purchase an additional 512,664 shares of its common stock at the public offering price of $12.50 per share, less underwriting discounts.
As previously disclosed, net proceeds from this offering will be used to redeem a portion of the common stock of City Office REIT, Inc. and common units of City Office REIT Operating Partnership, L.P. held by certain Second City entities.
Janney Montgomery Scott LLC, Wunderlich Securities, Inc. and Oppenheimer & Co. Inc. were joint book-running managers for the offering. Compass Point Research & Trading, LLC and D.A. Davidson & Co. were co-managers for the offering.
About City Office REIT, Inc.
City Office REIT, Inc. is a real estate company focused on owning high-quality office properties in attractive markets primarily in the Southern and Western United States. City Office REIT currently owns or has an interest in 2.3 million square feet of office properties. The Company intends to elect to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
Contact
City Office REIT, Inc.
Anthony Maretic
+1-604-806-3366
[email protected]
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SOURCE City Office REIT, Inc.
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