Offer sells 29,610,854 shares at $21.00 to Qatar Investment Authority
By Devika Patel
Knoxville, Tenn., Aug. 23 – Empire State Realty Trust, Inc. said it settled a $621.83 million private placement of stock with Qatar Investment Authority.
The company sold 29,610,854 class A common shares at $21.00 apiece, equivalent to a 9.9% economic and voting interest in the company on a fully diluted basis, Empire State said in a press release. The price per share is a 2.04% premium to the Aug. 22 closing share price of $20.58.
Proceeds will be used to repay outstanding debt under the company’s revolving credit facility and other debt, for acquisitions, for capital improvements and for general corporate purposes.
Empire State is a real estate investment trust based in New York City.
| Issuer: | Empire State Realty Trust, Inc.
|
| Issue: | Class A common stock
|
| Amount: | $621,827,934
|
| Shares: | 29,610,854
|
| Price: | $21.00
|
| Warrants: | No
|
| Investor: | Qatar Investment Authority
|
| Settlement date: | Aug. 23
|
| Stock symbol: | NYSE: ESRT
|
| Stock price: | $20.58 at close Aug. 22
|
| Market capitalization: | $2.54 billion
|
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