Hudson Pacific Properties Announces Pricing of Public Offering of Common Stock

LOS ANGELES--()--Hudson Pacific Properties, Inc. (“Hudson Pacific” or the “Company”) (NYSE: HPP) today announced the pricing of an underwritten public offering of 8,500,000 shares of common stock pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission at a public offering price of $36.00 per share. The offering is expected to close on March 3, 2017 subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 1,275,000 shares at the public offering price, less the underwriting discount. The Company estimates the offering will generate net proceeds, after deducting underwriting discounts (before other transaction costs), of approximately $293.8 million, or $337.8 million if the underwriters exercise their option to purchase additional shares in full.

Hudson Pacific intends to use net proceeds to the Company from the offering to fund identified and potential future acquisitions, to repay amounts outstanding under its unsecured revolving credit facility and/or for general corporate purposes.

The joint book-running managers for the offering are BofA Merrill Lynch, Wells Fargo Securities, Goldman, Sachs & Co., BTIG, KeyBanc Capital Markets, Barclays and Morgan Stanley, and the co-manager for the offering is RBC Capital Markets.

A copy of the final prospectus supplement and accompanying prospectus relating to these securities can be obtained, when available, by contacting: BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or by e-mailing dg.prospectus_requests@baml.com or Wells Fargo Securities, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by calling (800) 326-5897 or e-mailing cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities 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.

About Hudson Pacific Properties

Hudson Pacific Properties is a vertically integrated real estate company focused on acquiring, repositioning, developing and operating high quality office and state-of-the-art media and entertainment properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. Founded in 2006 as Hudson Capital, the Company went public in 2010, electing to be taxed as a real estate investment trust. Through the years, Hudson Pacific has strategically assembled a portfolio totaling over 17 million square feet, including land for development, in high growth, high-barrier-to-entry submarkets throughout Northern and Southern California and the Pacific Northwest. The Company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on Fortune 500 and leading growth companies, many in the technology, media and entertainment sectors. As a long-term owner, Hudson Pacific prioritizes tenant satisfaction and retention, providing highly customized build-outs and working proactively to accommodate tenants’ growth. Hudson Pacific trades as a component of the Russell 2000® and the Russell 3000® indices.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company’s control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission, or SEC, on February 21, 2017 and other risks described in documents subsequently filed by the Company from time to time with the SEC.

Contacts

Investor/Media Contacts:
Hudson Pacific Properties
Laura Campbell
Vice President, Head of Investor Relations
310.622.1702
lcampbell@hudsonppi.com
or
Greg Berardi
Blue Marlin Partners
415.239.7826
greg@bluemarlinpartners.com

Contacts

Investor/Media Contacts:
Hudson Pacific Properties
Laura Campbell
Vice President, Head of Investor Relations
310.622.1702
lcampbell@hudsonppi.com
or
Greg Berardi
Blue Marlin Partners
415.239.7826
greg@bluemarlinpartners.com