Benzinga | Apr 30, 2021 08:50AM EDT

Duke Realty Corp Files For Offering Of Up To $349.1M Of Common Stock

Duke Realty Corporation, an Indiana corporation.

Common Stock Shares of our common stock, par value $0.01 per share, having anOffered aggregate gross sales price of up to $349,141,233.

We presently intend to contribute the net proceeds received by us (1) from any sales of shares of our common stock through the sales agents and (2) upon settlement of any forward sale agreements, in each case, to the Operating Partnership, which we expect will subsequently useUse of the net proceeds to fund development and future acquisitions, toProceeds reduce our outstanding indebtedness and for other general corporate purposes. We have not yet determined which of our outstanding indebtedness will be repaid with the proceeds of this offering. Pending their use, we may invest the net proceeds from this offering in cash or cash equivalents. See ?Use of Proceeds? in this prospectus supplement.

We will not initially receive any proceeds from any sales of our common stockby a forward seller in connection with a forward sale agreement. For additionalinformation, see ?Plan of Distribution (Conflicts of Interest)?Sales ThroughForward Sellers.? If we enter into a forward sale agreement with any forwardpurchaser, the forward purchaser or its affiliate will use commerciallyreasonable efforts to attempt to borrow from third parties and sell, throughits affiliated forward seller, shares of our common stock to hedge such forwardpurchaser?s exposure under such forward sale agreement. All of the net proceedsfrom the sale of any such borrowed shares of our common stock will be paid tothe applicable forward purchaser. Such entity will be either a sales agent oran affiliate of a sales agent. As a result, a sales agent or one of itsaffiliates will receive the net proceeds from any sale of borrowed shares ofour common stock made in connection with any forward sale agreement. See ?Planof Distribution (Conflicts of Interest)?Other Activities and Relationships? inthis prospectus supplement.