Parkway Properties, Inc. (PKY) announced the pricing of its previously announced underwritten public offering of 11.0 million shares of common stock at a public offering price of $17.25 per share.
The underwriters for the public offering have been granted a 30-day option to purchase up to an additional 1.65 million shares of common stock at the public offering price, less the underwriting discount.
The company expects that net proceeds, after deducting the underwriting discount and estimated offering expenses payable by the company, will be about $181.8 million, or $209.1 million if the underwriters exercise their option to purchase additional shares in full.
The shares are expected to be delivered on or about March 25, 2013, subject to customary closing conditions, Parkway said.
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