Curbline Properties priced an underwritten public offering of 10 million shares of common stock, with expected gross proceeds of approximately $308.5 million before expenses. The offering is expected to close on July 1, and the underwriters have a 30-day option to purchase up to an additional 1.5 million shares. In connection with the offering, the company entered into forward sale agreements with affiliates of Goldman Sachs, Morgan Stanley and Wells Fargo covering the 10 million shares. The stock price traded 1.3% lower on Monday during after-market hours.
Curbline Properties Corp.Priced 10M share offering dilutes existing shareholders, stock fell 1.3% after hours.