Macerich Company Launches Underwritten Public Offering of 16M Shares
The Macerich Company announced that it has commenced an underwritten public offering of 16M shares of common stock. The company intends to use the net proceeds of this offering to repay borrowings under the company's revolving credit facility, which were used primarily to fund the acquisition of Annapolis Mall, and for general corporate purposes, including to acquire additional properties and to fund strategic leasing capital investments at Annapolis Mall. Pending such use, the company may invest the net proceeds in short-term, interest-bearing deposit accounts. Goldman Sachs & Co. is serving as the lead bookrunner and representative of the underwriters of the offering.
