Excel Trust Prices $145.75 Mln Stock Offering

(RTTNews) - Excel Trust, Inc. (EXL) said Friday that it has priced its public offering of 11 million shares of common stock at $13.25 per share.

The company has granted to the underwriters an option to purchase up to an additional 1.65 million shares within thirty days after the offering.

The offering is expected to close on or about June 25.

The offering will generate net proceeds, after deducting underwriting discounts and estimated offering expenses, of about $139.6 million, or $160.6 million if the underwriters exercise their option to purchase additional shares in full.

The company plans to use the net proceeds from the offering to partially fund certain property acquisitions which the company has recently placed under contract and for other general corporate and working capital purposes.