In the News
September 11, 2008
Cogdell Spencer prices common stock offering
Cogdell Spencer Inc. said Sept. 10 that it priced its underwritten public offering of 2,160,000 shares of common stock at $18.50 per share.
The company said it granted the underwriters an option to purchase up to an additional 324,000 shares of common stock at any time within 30 days after the offering. The offering is expected to close Sept. 16, subject to customary closing conditions.
Cogdell Spencer expects the gross proceeds from the offering to be approximately $40 million, or approximately $46 million if the underwriters exercise their option to purchase additional shares in full. The company plans to use the net proceeds from the offering to reduce borrowings under its secured revolving credit facility and for working capital purposes.
Banc of America Securities LLC, KeyBanc Capital Markets Inc. and Citi are acting as joint book-running managers. Raymond James, BMO Capital Markets and Janney Montgomery Scott LLC are acting as co-managers.
