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
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT