Macerich announced the closing of a 14,000,000-share forward offering and the full exercise of a 2,100,000-share option, with proceeds to be contributed to its operating partnership.
Key Highlights:
- Closed sale of 14,000,000 common shares via forward sales agreements on June 17, 2026; proceeds to be contributed to the Operating Partnership.
- Underwriters exercised a 30-day option for 2,100,000 additional shares; option shares closed June 26, 2026 after additional forward sale agreements.
- Company expects physical settlement of additional forwards and to receive proceeds by June 16, 2027, but may elect cash or net-share settlement which could change proceeds.
- Operating Partnership will use net proceeds for future acquisitions and general corporate purposes; funds may be held in short-term interest-bearing accounts pending use.
Original SEC Filing:
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