Alexandria Real Estate Equities' $755 Million Common Stock Offering

July 12, 2016

Cleary Gottlieb acted as product counsel to the underwriters, led by Merrill Lynch, Pierce, Fenner & Smith, Citigroup Global Markets and J.P. Morgan Securities, in a $755 million registered offering of common stock of Alexandria Real Estate Equities and counsel to Bank of America, Citibank, and JPMorgan Chase Bank, London Branch, as forward purchasers under related forward sale agreements. 

In the offering, the forward purchasers or their affiliates borrowed and sold to the underwriters an aggregate of 7,475,000 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 July 12, 2017. The offering priced on July 6, 2016, and closed on July 12, 2016 (including exercise in full of the related option to purchase additional shares). 

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