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Boston Properties’ Underwriters Exercise 2.25M Share Option

Jun 9, 2009 | Reprints | Unlock Link | Print

The underwriters of Boston Properties’ recent public offering have exercised their over-allotment option in full to purchase an additional 2.25 million shares of common stock from the REIT at $50 per share.

Combined with the earlier purchase, Boston Properties will sell a total of 17.25 million shares of common stock for aggregate net proceeds of approximately $841.9 million, the company said. Morgan Stanley and J.P.Morgan are serving as joint book-running managers.

Subject to customary closing conditions, the offering is expected to close Wednesday.

Commercial & Industrial