Cousins Properties Prices $224.1 MLn Stock Offering

(RTTNews) - Cousins Properties Inc. (CUZ) said Wednesday that it has priced an underwritten public offering of 18 million shares of its common stock for expected gross proceeds of $224.1 million before underwriting discounts and commissions and estimated offering expenses payable by the company.

The offering is expected to close on August 4.

The company plans to use the net proceeds of the offering to fund the purchase price of Fifth Third Center, a 698,000 square feet Class-A office building located in the Uptown submarket of Charlotte, North Carolina. Any remaining proceeds will be used for general corporate purposes, including the acquisition and development of office properties, other opportunistic investments and the repayment of debt.