Equity Residential Announces Commencement of Common Share Offering by Affiliate of Lehman Brothers Holding Inc.
CHICAGO--(BUSINESS WIRE)-- Equity Residential (NYS: EQR) announced today the underwritten at-the-market secondary public offering of 15,068,000 of its common shares by Jupiter Enterprise LP, an indirect subsidiary of Lehman Brothers Holding Inc., as the selling shareholder. The 15,068,000 common shares being offered are part of the 34,468,085 common shares issued to the selling shareholder in connection with Equity Residential's acquisition of a portion of the Archstone apartment community portfolio in February 2013. The offering is being made under an effective shelf registration statement filed by Equity Residential with the Securities and Exchange Commission (the "SEC"). Neither Equity Residential nor any of its affiliates, including officers and trustees, will sell any shares in the offering.
Goldman, Sachs & Co. is acting as the sole book-running manager for the offering. The offering of the securities is being made by means of a prospectus supplement and accompanying prospectus only, copies of which may be obtained from Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, or by emailing firstname.lastname@example.org, or, alternatively, when they become available, for free by visiting EDGAR on the SEC website at www.sec.gov.
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 other 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 other jurisdiction.
About Equity Residential
Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 416 properties located in 13 states and the District of Columbia, consisting of 118,778 apartment units.
In addition to historical information, this press release contains forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Residential's management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks, including, without limitation, changes in general market conditions, including the rate of job growth and cost of labor and construction material, the level of new multifamily construction and development, competition and local government regulation. Other risks and uncertainties are described under the heading "Risk Factors" in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.equityapartments.com. Many of these uncertainties and risks are difficult to predict and beyond management's control. Forward-looking statements are not guarantees of future performance, results or events. Equity Residential assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Marty McKenna, 312-928-1901
KEYWORDS: United States North America Illinois
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