Corrects Headline to Show 'Guidance is Lowered'
Macerich Co. (MAC) announced that it intends to offer to sell 12 million shares of its common stock in an underwritten public offering. Macerich intends to grant the underwriters a 30-day option to purchase up to 1.80 million additional shares to cover over-allotments, if any. Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers and underwriters for the offering.
Macerich intends to use the net proceeds of the offering to repay a portion of the outstanding balance under its $1.5 billion revolving line of credit.
For fiscal 2009, the company now anticipates FFO per share to be in the range of $3.50 - $3.80 compared to earlier outlook of $4.25 - $4.55.
For fiscal 2009, the company now expects earnings per share to be in the range of $1.40 - $1.70.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.