Cousins Properties Inc. (CUZ) Friday said it completed its public offering of 14.35 million common shares, plus an additional 2.15 million shares issued to the underwriters, at $10.45 per share. The proceeds were about $165.1 million.
The company plans to use a significant portion of the proceeds to acquire 816 Congress Avenue, a Class-A office building in Austin, Texas. In addition, the Company intends to use a portion of the proceeds to redeem in full its outstanding 7.75% Series A Cumulative Redeemable Preferred Stock.
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