Investor MGN (USA) to purchase 500,000 shares alongside public deal
By Devika Patel
Knoxville, Tenn., Aug. 10 - Equity One, Inc. priced a $10.6 million private placement of stock in a prospectus supplement filed Friday with the Securities and Exchange Commission. The deal was announced Thursday and is being conducted alongside an $86.92 million public stock offering.
The company will sell 500,000 common shares at $21.20 apiece to MGN (USA), Inc. The price per share is a 0.89% discount to the Aug. 9 closing share price of $21.39 and is identical to the price per share of the company's public stock sale.
Settlement is expected Aug. 14.
Proceeds from both deals will be used to reduce debt under the company's unsecured revolving credit facility and to invest in short term instruments.
Equity One is a North Miami Beach. Fla.-based owner, developer and operator of shopping centers.
| Issuer: | Equity One, Inc.
|
| Issue: | Common stock
|
| Amount: | $10.6 million
|
| Shares: | 500,000
|
| Price: | $21.20
|
| Warrants: | No
|
| Investor: | MGN (USA), Inc.
|
| Announcement date: | Aug. 9
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 14
|
| Stock symbol: | NYSE: EQY
|
| Stock price: | $21.39 at close Aug. 9
|
| Market capitalization: | $2.4 billion
|
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