logo
Share SHARE
FONT-SIZE Plus   Neg

First Potomac Realty Trust Raises $104.9 Mln Net Proceeds From Stock Offering

First Potomac Realty Trust (FPO) said Friday that it has completed its public offering of 7.475 million common shares of beneficial interest, including 975,000 common shares issued and sold pursuant to the exercise of the underwriters' option to purchase additional common shares in full, at a public offering price of $14.70 per share.

The net proceeds of the offering, after deducting the underwriting discount and estimated offering costs, were about $104.9 million.

The company plans to use the net proceeds of the offering to repay outstanding indebtedness consistent with its strategic and capital plan, including the amounts outstanding under its secured term loans and a portion of the amounts outstanding under its unsecured revolving credit facility, and for general corporate purposes.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Continuing efforts to normalize relations, President Barack Obama announced Wednesday the U.S. and Cuba will re-open embassies in each country's respective capitals later this month. Obama described the move as a demonstration that the U.S. and Cuba don't have to be imprisoned by the past. For pragmatic reasons, Senator Lindsay Graham no longer wants the party to "reaffirm our support for a Constitutional amendment defining marriage as the union of one man and one woman," as they did at the 2012 Republican Convention. The most "American" vehicle isn't Built Ford Tough. It's not in jingles sung by John Mellencamp or Bob Seger, and it probably isn't kickin' up backroads dust somewhere in the Heartland.
comments powered by Disqus
Follow RTT