Highwoods Properties Prices $133.1 Mln Stock Offering

(RTTNews) - Highwoods Properties, Inc. (HIW) said Thursday that it has priced its underwritten public offering of 3.75 million shares of common stock for expected gross proceeds of about $133.1 million, before underwriting discounts and commissions and estimated offering expenses.

The company has also granted the underwriters of the offering a 30-day option to purchase up to an additional 562,500 shares of common stock.

The offering is expected to close on or about August 13.

The company plans to use the net proceeds of the offering to repay borrowings outstanding under its $475 million unsecured revolving credit facility, to fund its property acquisitions and development activity and for general corporate purposes.