Alexandria Real Estate Equities said it completed its underwritten public offering of 6.86 million at a price of $108.55 per share, including 755,000 shares sold after the underwriters exercised their options to buy more shares. The company sale of 4.76 million of the shares are subject to forward sale agreements with JPMorgan Chase Bank, Bank of America and Citibank, it said late on Wednesday.
The company will only get proceeds from the sale of 2.1 million shares in this public offering as it won’t initially receive any proceeds from the sale of 4.76 million shares to the forward purchasers.
The company said separately on Thursday that S&P Dow Jones Indices will include the company in the S&P 500 stock index, from before trading opens on Monday, March 20. Alexandria will be added to the S&P GICS Office REITs Sub-Industry index, it said.