Regency Centers Closes 2.875 Mln Common Stock Offering - Quick Facts

(RTTNews) - Regency Centers Corp. (REG) said it has closed its underwritten public offering of 2.875 million shares of its common stock, which included the underwriter's full exercise of its option to purchase up to 375,000 additional shares of Regency's common stock.

The company noted that the closing will result in gross proceeds of about $193.8 million, before any underwriting discount and offering expenses.

In connection with the offering of 2.50 million shares of Regency's common stock announced on January 14, 2015, and the 375,000 additional shares purchased by the underwriter, Regency has entered into a forward sale agreement with an affiliate of Wells Fargo Securities, LLC, the Forward Purchaser.

Under the agreement, Regency has agreed to sell to Wells Fargo Securities the same number of shares of Regency's common stock sold by a Wells Fargo Securities affiliate to the underwriter for sale in the underwritten public offering.

In connection with the forward sale agreements, Wells Fargo Securities or its affiliate borrowed from third-party lenders and sold to the underwriter 2.875 million shares of the company's common stock at the close of the offering.