Alexandria Real Estate Equities, Inc., (ARE), a real estate investment trust dealing in life sciences industry, Tuesday announced the pricing of its public offering of 6.6 million common shares at $73.50 per share. The issue size had been increased from the originally sized offering of 6 million shares. The company intends to use the fund from the offering to pay debts.
The firm has granted the underwriters a 30-day option to purchase up to 990,000 additional shares. The offering is expected to close on or about May 17.
BofA Merrill Lynch, Citigroup, and J.P. Morgan acted as joint book-running managers, RBS and Scotiabank acted as co-lead managers.
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