Kennedy Wilson Announces Pricing of Common Stock Offering
Kennedy Wilson Announces Pricing of Common Stock Offering
BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- International real estate investment and services firm, Kennedy-Wilson Holdings, Inc. (NYS: KW) ("Kennedy Wilson" or the "Company") today announced the pricing of its underwritten public offering of 6,000,000 shares of its common stock at a public offering price of $18.50 per share. The offering is expected to close on September 13, 2013, subject to customary closing conditions. Kennedy Wilson has also granted the underwriter of the offering a 30-day option to purchase up to 900,000 additional shares of common stock.
Deutsche Bank Securities is acting as the sole underwriter for the offering.
The Company expects to use the net proceeds from the offering for general corporate purposes, including future acquisitions and co-investments, and to repay the $50.0 million outstanding balance under its unsecured revolving credit facility. Copies of the preliminary prospectus supplement (or, when available, the final prospectus supplement) and accompanying prospectus may be obtained by contacting Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005, Attention: Prospectus Group, telephone (800) 503-4611 or email at prospectus.cpdg@db.com.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities, in any state or other jurisdiction in which the offer, solicitation or sale would be unlawful before registration or qualification under the security laws of that state or jurisdiction. The offering may be made only by means of a prospectus supplement and accompanying prospectus.
About Kennedy Wilson
Founded in 1977, Kennedy Wilson is an international real estate investment and services company headquartered in Beverly Hills, CA with 24 offices in the United States, the United Kingdom, Ireland, Spain and Japan. The Company offers a comprehensive array of real estate services, including auction, conventional sales, property services, research and investment management. Through its fund management and separate account businesses, Kennedy Wilson is a strategic investor of real estate investments in the United States, the United Kingdom, Ireland and Japan.
Kennedy Wilson
Christina Cha
VP of Corporate Communication
(310) 887-6294
ccha@kennedywilson.com
KEYWORDS: United States North America California
INDUSTRY KEYWORDS:
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