Newton REIT HRPT Properties Trust has increased a public offering to 30 million common shares of beneficial interest at a public offering price of $7.25 per share.
The offering size has been increased from the previously proposed 20 million share offering.
The settlement of the offering is expected to occur Wednesday, March 24. HRP expects to use the net proceeds from this offering to repay amounts outstanding under its $750 million revolving credit facility and fund general business activities, including possible future acquisitions.
The joint book-running managers for this offering are Morgan Stanley, CITI and Wells Fargo Securities. The co-lead managers for this offering are Jefferies & Co., Morgan Keegan & Co. Inc., RBC Capital Markets and UBS Investment Bank. The co-managers for this offering are Janney Montgomery Scott and Oppenheimer & Co.





