City Office REIT Announces Public Offering of Common Stock
City Office REIT, Inc. (NYSE:CIO) (the "Company" or "City Office") announced today that it has commenced an underwritten public offering of 6,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock.
The Company intends to use the net proceeds from the offering for the repayment of amounts outstanding under its unsecured credit facility and for general working capital purposes, including funding future acquisitions, capital expenditures and investments.
BMO Capital Markets, Raymond James and RBC Capital Markets are acting as the book-running managers for the offering. The book-running managers may offer the shares from time to time in negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
The offering may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus and the prospectus supplement relating to the offering, when available, may be obtained by contacting:
BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, New York 10036, by calling 800-414-3627 or by emailing BMOProspectus@bmo.com;Raymond James & Associates, Inc., Attention: Equity Syndicate, 880 Carillon Parkway, St. Petersburg, FL 33716, by calling 800-248-8863 or by emailing: firstname.lastname@example.org; orRBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281, by calling 877-822-4089 or by emailing email@example.com
A registration statement relating to these securities has been filed with and declared effective by the U.S. Securities and Exchange Commission on June 12, 2017. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About City Office REIT, Inc.
City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading 18-hour cities in the Southern and Western United States. City Office currently owns or has a controlling interest in 5.9 million square feet of office properties. Additional information about City Office is available on the Company's website at www.cityofficereit.com. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.
This press release contains "forward looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements that are not statements of historical facts are, or may be deemed to be, forward looking statements. Forward looking statements reflect the Company's current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause future results, performance or achievements to differ. These risks, uncertainties and other factors include factors described in the Company's news releases and filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2018 and subsequent Quarterly Reports on Form 10-Q, which have been filed with the Securities and Exchange Commission. Readers of this press release are cautioned to consider these risks and uncertainties and not to place undue reliance on any forward-looking statements. The Company does not undertake any obligation to publicly update any forward-looking statement, whether written or oral, relating to matters discussed in this press release, except as may be required by applicable securities laws.
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SOURCE: City Office REIT, Inc.
City Office REIT, Inc. Anthony Maretic, CFO +1-604-806-3366 firstname.lastname@example.org