ATLANTA--(BUSINESS WIRE)--
Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) today
announced that it priced an underwritten public offering of 8.7 million
shares of its common stock for expected gross proceeds of $99.2 million
before underwriting discounts and commissions and estimated offering
expenses payable by the Company. Subject to customary conditions, the
offering is expected to close on March 11, 2014.
The Company intends to use the net proceeds of the offering to redeem in
full the Company’s outstanding 7.50% Series B Cumulative Redeemable
Preferred Stock. Any remaining proceeds will be used for general
corporate purposes, including the acquisition and development of office
properties, other opportunistic investments and the repayment of debt.
Wells Fargo Securities is serving as the underwriter of the offering.
This offering will be made pursuant to a prospectus supplement to the
Company’s prospectus dated March 29, 2013, filed as part of the
Company’s effective shelf registration statement relating to these
securities. A preliminary prospectus supplement relating to the offering
has been filed with the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy the shares described herein or any other securities, nor
shall there be any sale of these shares in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of such
state or other jurisdiction. The offering may be made only by means of a
prospectus supplement and the related prospectus.
Before you invest, you should read the prospectus, the preliminary
prospectus supplement and other documents filed with the Securities and
Exchange Commission for more complete information about the Company and
this offering. You may get these documents for free by visiting EDGAR on
the Securities and Exchange Commission Web site at www.sec.gov.
Alternatively, a copy of the preliminary prospectus supplement, final
prospectus supplement (when available) and the base prospectus relating
to the shares can be obtained by contacting the underwriter as follows:
Wells Fargo Securities, Attn: Equity Syndicate Dept., 375 Park Avenue,
New York, New York 10152, Email: cmclientsupport@wellsfargo.com,
Phone: (800) 326-5897.
About Cousins Properties Incorporated
Cousins Properties Incorporated is a leading fully integrated real
estate investment trust (REIT) with extensive experience in development,
acquisition, financing, management and leasing. Based in Atlanta, the
Company actively invests in top-tier urban office assets and
opportunistic mixed-use developments in Sunbelt markets.
Forward-Looking Statements
Certain matters discussed in this press release are forward-looking
statements within the meaning of the federal securities laws and are
subject to uncertainties and risk and actual results may differ
materially from projections, including matters related to the commenced
public offering and intended use of proceeds. Readers should carefully
review the Company’s financial statements and notes thereto, as well as
the risk factors described in Part I, Item 1A of the Company’s Annual
Report on Form 10-K for the year ended December 31, 2013 and other
documents the Company files from time to time with the Securities and
Exchange Commission. Such forward-looking statements are based on
current expectations and speak as of the date of such statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of future events, new
information or otherwise.
Cousins Properties Incorporated
Marli Quesinberry, 404-407-1898
Director
of Investor Relations and Corporate Communications
marliquesinberry@cousinsproperties.com
Source: Cousins Properties Incorporated