DDR Corp. (DDR) Thursday priced a public offering of 34 million common shares at a price of $18.90 per share, all of which are being offered on a forward sale basis.
Underwriters have been granted a 30-day option to purchase up to an additional 5.1 million common shares.
DDR intends to use the net proceeds from the forward equity sale to part fund the acquisition of 30 value-oriented power centers, currently owned by a joint venture between affiliates of Blackstone and DDR.
The offering is expected to close on or about May 21, subject to customary closing conditions.
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