REGENCY CENTERS CORPORATION (NYSE:REG) Files An 8-K Other Events
Item 8.01 Other Events.
entered into an amendment (the “Amendment”) to the forward
sale agreement dated March 17, 2016 (the “Forward Sale
Agreement”) between the Company and an affiliate of J.P.
Morgan Securities LLC primarily to extend the final maturity
date of the Forward Sale Agreement from June 23, 2017 to
December 27, 2017. Upon any physical settlement of the Forward
Sale Agreement, the Company will issue and deliver to the
forward purchaser shares of the Company’s common stock in
exchange for cash proceeds per share, before any underwriting
discount and offering expenses, of $75.25 per share, subject to
certain adjustments as provided in the Forward Sale Agreement.
The Company may, in certain circumstances, elect cash
settlement for all or a portion of its obligations under the
Forward Sale Agreement. Following the Company’s partial
settlement in June 2016, approximately 1.25 million shares
remain outstanding under the Forward Sale Agreement.
and its affiliates have engaged and may in the future engage in
various financings, commercial banking and investment banking
services with, and provide financial advisory services to, the
Company and its affiliates for which they have received or may
receive customary fees and reimbursement of expenses.
complete and is qualified in its entirety by the Amendment, a
copy of which is attached to this Current Report on Form 8-K as
Exhibit 10.1 and incorporated by reference herein.
| Exhibit 10.1 |
Amendment to Forward Sale Agreement dated as of March
17, 2016 between Regency Centers Corporation and JPMorgan Chase Bank, National Association, London Branch. |
About REGENCY CENTERS CORPORATION (NYSE:REG)
Regency Centers Corporation is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships. The Company owns direct or partial interests in approximately 320 shopping centers, which are grocery-anchored community and neighborhood centers. The Company’s centers are located in over 30 states and the District of Columbia, and contain approximately 38.0 million square feet of gross leasable area (GLA). The Company’s properties are leased to tenants under operating leases. Its leases for tenant space under approximately 5,000 square feet have terms ranging from three to five years. The Company’s leases over 10,000 square feet have lease terms in excess of five years, which consists of anchor tenants.