ATLANTA--(BUSINESS WIRE)--Cousins Properties Incorporated (the “Company”) (NYSE: CUZ) today announced the completion of its underwritten public offering of 8.7 million shares of its common stock. The net proceeds from the offering, after deducting estimated offering expenses, were approximately $98.4 million.
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 served as the underwriter of the offering.
The offering was 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. 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 was made only by means of a prospectus supplement and the related prospectus.
A copy of the final prospectus supplement 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 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.
