- The cost of equity capital is likely a little more expensive than hoped as Franklin Street Properties (NYSE:FSP) prices its 6.125M share secondary at $12.35 each for gross proceeds of $72.1M. The underwriters still have an option to buy another 918.75K shares at that price.
- Proceeds will be used to fund the $45.5M purchase of Pershing Park Plaza in Atlanta, and for the $15M-$20M redevelopment of a Minneapolis property.
- FSP -6.1% to $12.35
Franklin Street Properties -6.1% after pricing secondary
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Symbol | Last Price | % Chg |
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FSP | - | - |
Franklin Street Properties Corp. |