NORTH MIAMI BEACH, Fla.--()--Equity One, Inc. (NYSE:EQY), an owner, developer, and operator of shopping centers, announced today a public secondary offering of 4,060,606 shares of its outstanding common stock by CSC Ventures Limited, a stockholder of the Company and subsidiary of Capital Shopping Centres Group PLC. CSC Ventures is not selling, and the underwriter is not offering, approximately 11.4 million shares of Equity One common stock underlying interests in Equity One’s CapCo joint venture held by a subsidiary of Capital Shopping Centres Group. Equity One will not receive any of the proceeds from the sale of shares of common stock by the selling stockholder in the offering. On March 2, 2012, the last reported sale price of Equity One common stock as reported on the New York Stock Exchange was $19.12 per share.
UBS Investment Bank is the sole underwriter of the offering.
This offering is being made by means of a prospectus supplement to the Company’s existing shelf registration statement filed with the U.S. Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus may be obtained from UBS Investment Bank, 299 Park Avenue, New York, NY 10171, Attn: Prospectus Department, or by calling UBS Investment Bank at (888) 827-7275.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, the Company’s common stock or any other securities, nor shall there be any sale of securities mentioned in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT EQUITY ONE, INC.
As of December 31, 2011, Equity One’s consolidated property portfolio comprised 165 properties totaling approximately 17.2 million square feet of gross leasable area, or GLA, and included 144 shopping centers, nine development or redevelopment properties, six non-retail properties and six land parcels. Additionally, Equity One had joint venture interests in 17 shopping centers and two office buildings totaling approximately 2.8 million square feet.
FORWARD LOOKING STATEMENTS
Certain matters discussed by Equity One in this press release, including the proposed offering by the selling stockholder of shares of Equity One’s common stock, constitute forward-looking statements within the meaning of the federal securities laws. Although Equity One believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Factors that could cause actual results to differ materially from current expectations include changes in macro-economic conditions and the demand for retail space in the states in which Equity One owns properties; the continuing financial success of Equity One’s current and prospective tenants; the risks that Equity One may not be able to proceed with or obtain necessary approvals for development or redevelopment projects or that it may take more time to complete such projects or incur costs greater than anticipated; the availability of properties for acquisition; the extent to which continuing supply constraints occur in geographic markets where Equity One owns properties; the success of its efforts to lease up vacant space; the effects of natural and other disasters; the ability of Equity One to successfully integrate the operations and systems of acquired companies and properties; changes in Equity One’s credit ratings; and other factors, which are described in Equity One’s filings with the Securities and Exchange Commission. Equity One undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by applicable law.