SL Green Realty Corp. (NYSE: SLG) announced that it completed a public offering of 19.5 million shares of common stock today at a price per share of $20.75, including 2.5 million shares issued and sold to the underwriters to cover overallotments.
The net proceeds to the company from the offering were approximately $387.4 million. SL Green plans to use the proceeds for general corporate and/or working capital purposes, which may include investment opportunities, purchases of the indebtedness of its subsidiaries in the open market from time to time, and the repayment of indebtedness at the applicable maturity or put date.
SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The REIT owns interests in 29 New York City office properties totaling approximately 23.2 million sq. ft.
