{"id":514680,"date":"2021-07-19T16:18:12","date_gmt":"2021-07-19T20:18:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-edison-company-announces-closing-of-underwritten-initial-public-offering\/"},"modified":"2021-07-19T16:18:12","modified_gmt":"2021-07-19T20:18:12","slug":"phillips-edison-company-announces-closing-of-underwritten-initial-public-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-edison-company-announces-closing-of-underwritten-initial-public-offering\/","title":{"rendered":"Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering"},"content":{"rendered":"

<\/p>\n

Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering<\/b><\/p>\n

CINCINNATI–(BUSINESS WIRE<\/a>)–
\nPhillips Edison & Company, Inc. (\u201cPECO\u201d), one of the nation\u2019s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers, announced today that it has completed its underwritten initial public offering of 17,000,000 shares of common stock at a price to the public of $28.00 per share.\n<\/p>\n

\nPECO has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.\n<\/p>\n

\nShares of PECO\u2019s common stock began trading on the Nasdaq Global Select Market on July 15, 2021, under the ticker symbol \u201cPECO\u201d.\n<\/p>\n

\nPECO intends to use the net proceeds to pay off its $375.0 million unsecured term loan maturing in 2022, fund external growth through property acquisitions, and fund other general corporate uses.\n<\/p>\n

\nMorgan Stanley, BofA Securities, J.P. Morgan, BMO Capital Markets, Goldman Sachs & Co. LLC, KeyBanc Capital Markets, Mizuho Securities and Wells Fargo Securities acted as joint book-running managers for the offering. BTIG, Capital One Securities, Fifth Third Securities, PNC Capital Markets LLC and Regions Securities LLC acted as co-managers for the offering.\n<\/p>\n

\nThe offering was made only by means of a prospectus, and copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, Attn.: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attn.: Prospectus Department, or by email at dg.prospectus_requests@bofa.com<\/a>; or J.P. Morgan Securities LLC, Attn.: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmchase.com<\/a>.\n<\/p>\n

\nA registration statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective under the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of 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.\n<\/p>\n

About Phillips Edison & Company<\/b><\/p>\n

\nPhillips Edison & Company, Inc. (\u201cPECO\u201d) is one of the nation\u2019s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers. As of March 31, 2021, PECO owned equity interests in 300 real estate properties, including 278 wholly-owned real estate properties and 22 shopping center properties owned through two unconsolidated joint ventures with institutional partners.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210719005448\/en\/<\/a><\/span><\/p>\n

Investors:
\n<\/b>
Phillips Edison & Company, Inc.
\n
Michael Koehler, Vice President of Investor Relations
\n
(513) 338-2743
\n
InvestorRelations@phillipsedison.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Ohio<\/p>\n

INDUSTRY KEYWORDS:<\/b> REIT Retail Commercial Building & Real Estate Supermarket Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering CINCINNATI–(BUSINESS WIRE)– Phillips Edison & Company, Inc. (\u201cPECO\u201d), one of the nation\u2019s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers, announced today that it has completed its underwritten initial public offering of 17,000,000 shares of common stock at a price to the public of $28.00 per share. PECO has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Shares of PECO\u2019s common stock began trading on the Nasdaq Global Select Market on July 15, 2021, under the ticker symbol \u201cPECO\u201d. PECO intends to use the net proceeds to … <\/p>\n

Continue reading “Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-514680","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPhillips Edison & Company Announces Closing of Underwritten Initial Public Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/phillips-edison-company-announces-closing-of-underwritten-initial-public-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Phillips Edison & Company Announces Closing of Underwritten Initial Public Offering CINCINNATI–(BUSINESS WIRE)– Phillips Edison & Company, Inc. (\u201cPECO\u201d), one of the nation\u2019s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers, announced today that it has completed its underwritten initial public offering of 17,000,000 shares of common stock at a price to the public of $28.00 per share. PECO has granted the underwriters a 30-day option to purchase up to an additional 2,550,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. Shares of PECO\u2019s common stock began trading on the Nasdaq Global Select Market on July 15, 2021, under the ticker symbol \u201cPECO\u201d. 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