Alexandria Real Estate Equities’ $852 Million Offering

January 10, 2018

Cleary Gottlieb acted as product counsel to the underwriters, led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. in an $852 million registered offering of common stock of Alexandria Real Estate Equities and counsel to Bank of America, N.A., JPMorgan Chase Bank, National Association, London Branch, and Citibank, N.A. as forward purchasers under related forward sale agreements.

The offering priced on January 4, 2018 and closed on January 8, 2018 (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 6,900,000 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 April 8, 2019.

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