Kilroy Realty Corp. (KRC) said it has priced its public offering of 5 million shares of its common stock at $46.10 per share. The offering is expected to close on August 13, 2012.
The underwriters for the public offering have been granted a 30-day option to purchase up to 750,000 additional shares of common stock.
The estimated net proceeds from the offering are expected to be around $220.9 million, before giving effect to any purchase by the underwriters of additional shares. The company intends to contribute the net proceeds from the offering to its operating partnership. The operating partnership plans to use the net proceeds from the offering for general corporate purposes.
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