RTTNews | Jun 14, 2021 11:20PM EDT

23:20 Monday, June 14, 2021 (RTTNews.com) - Alexandria Real Estate Equities Inc. (ARE) said that it has priced its upsized public offering of 7.00 million shares of the company's common stock at a price of $184.00 per share.

The company also granted the underwriters a 30-day option to purchase up to 1.05 million additional shares. The offering is expected to close on or about June 17, 2021, subject to customary closing conditions.

The company has entered into forward sale agreements with Royal Bank of Canada, Bank of America, N.A., Citibank, N.A., Goldman Sachs & Co. and JPMorgan Chase Bank, N.A. with respect to 7.00 million shares of its common stock.

The forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 7 million shares of the common stock that will be delivered in this offering.

The company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than December 14, 2022, an aggregate of 7 million shares of its common stock to the forward purchasers in exchange for cash proceeds per share equal to the applicable forward sale price.

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