SITE Centers Announces Offering of Common Shares
SITE Centers Corp. (NYSE: SITC) (SITE Centers or the Company) today announced the commencement of a public offering of 15,000,000 common shares.
- SITE Centers Corp. (NYSE: SITC) (SITE Centers or the Company) today announced the commencement of a public offering of 15,000,000 common shares.
- SITE Centers also expects to grant the underwriters a 30-day option to purchase up to an additional 2,250,000 common shares.
- SITE Centers intends to use the net proceeds of the offering to redeem the depositary shares representing its outstanding 6.250% Class K Cumulative Redeemable Preferred Shares, without par value (the Class K Preferred Shares), which have an aggregate liquidation preference of $150.0 million.
- SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities.