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

Quick Facts

Editors Pick
Electric car maker Tesla's Chief Elon Musk confirmed that there will be no discount on new cars. Through several tweets and an email addressing its employees, Musk said, "It is absolutely vital that we adhere to the no negotiation and no discount policy that has been true since we first started taking orders 10 years ago." Shares of National Beverage Corp. fell about 15 percent on Wednesday after short selling firm Glaucus Research Group has said it is shorting the soft-drink maker and accused the company of manipulating earnings. In a research report, Glaucus alleged that National Beverage achieved its "remarkable history of financial performance in part by manipulating earnings." Canadian pipeline operator Enbridge Inc. said it has agreed to sell its liquids pipeline assets in the South Prairie Region, including the Saskatchewan pipeline system, to privately-held midstream company Tundra Energy Marketing Ltd. for C$1.075 billion in cash.
comments powered by Disqus
Follow RTT