Brixmor Property Group Completes $948.8 Million Initial Public Offering

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Nov 04, 2013, 04:33 ET

NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that it has completed its initial public offering of 47,437,500 shares of its common stock at a price to the public of $20.00 per share, including 6,187,500 shares sold in connection with the full exercise of the option to purchase additional shares granted to the underwriters, resulting in gross proceeds of $948.8 million.

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Brixmor intends to use the net proceeds of the offering of $891.3 million, after deducting underwriting discounts and estimated offering expenses payable by the Company, primarily for the repayment of indebtedness and certain fees and expenses.

BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities acted as joint bookrunners and representatives of the underwriters for the offering. The offering of these securities was made only by means of a prospectus. A copy of the final prospectus relating to the offering can be obtained from: BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department, or by e-mail at [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected], or by phone at (800) 831-9146; J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by phone at (866) 803-9204; or Wells Fargo Securities, 375 Park Avenue, 4th Floor, New York, New York 10152, Attention: Equity Syndicate, or by e-mail at [email protected], or by phone at (800) 326-5897. The final prospectus may also be accessed through the website of the U.S. Securities and Exchange Commission ("SEC") at www.sec.gov.

A registration statement relating to the securities has been declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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.

About Brixmor Property Group:
Brixmor owns and operates the nation's largest wholly-owned portfolio of grocery-anchored community and neighborhood shopping centers, with 522 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through its extensive leasing capabilities and anchor repositioning / redevelopment platform. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company. For additional information, please visit www.brixmor.com.

SOURCE Brixmor Property Group Inc.