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Brandywine rises on stock sale
Shares of Brandywine Realty Trust topped $7 for the first time in four months yesterday after the Radnor-based office landlord sold 35 million new shares at $6.30 each.
Shares of Brandywine Realty Trust topped $7 for the first time in four months yesterday after the Radnor-based office landlord sold 35 million new shares at $6.30 each. Brandywine sold another 5.25 million shares to underwriters led by Merrill Lynch, JPMorgan and Citi, bringing proceeds to the company from the sales to $243 million, and opening the stock higher again today.
The company also said it's bought back $34.5 million of its 5.625% Guaranteed Notes due next December, at 93 cents on the dollar.