Alexandria Real Estate Equities’ $642 Million Common Stock Offering

June 25, 2019

Cleary Gottlieb acted as product counsel to the underwriters, led by BofA Securities Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC, in a $642 million registered offering of common stock by Alexandria Real Estate Equities (Alexandria) and counsel to Bank of America N.A., Citibank N.A., and JPMorgan Chase Bank, National Association, London Branch, as forward purchasers, under related forward sale agreements.

The offering priced on June 20, 2019, and closed on June 25, 2019 (including exercise in full of the related option to purchase additional shares).

In the offering, the forward purchasers or their affiliates borrowed and sold to the underwriters an aggregate of 4.43 million shares of Alexandria’s common stock. Under the forward sale agreements, the forward purchasers will purchase the same number of shares (subject to adjustments and to the issuer’s cash settlement and net share settlement rights) from Alexandria no later than June 26, 2020.

Alexandria is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations.