Latest news with #HudsonPacific
Yahoo
3 days ago
- Business
- Yahoo
Hudson Pacific Properties Announces Pricing of $600 Million Public Offering
LOS ANGELES, June 12, 2025--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. ("Hudson Pacific" or the "Company") (NYSE: HPP) today announced the pricing of an underwritten public offering of 197,194,698 shares of its common stock and pre-funded warrants to purchase 71,863,597 shares of its common stock. The shares of common stock are being sold at a public offering price of $2.23 per share and the pre-funded warrants are being sold at a public offering price of $2.22 per warrant, which represents the per share public offering price for the common stock, less the $0.01 per share exercise price for each such pre-funded warrant. The underwriters have been granted a 30-day option to purchase up to an additional 40,358,744 shares at the public offering price, less the underwriting discount. The Company estimates the offering will generate net proceeds, after deducting underwriting discounts (before other transaction costs and excluding the exercise of any pre-funded warrants), of approximately $575.6 million, or $662.0 million if the underwriters exercise their option to purchase additional shares in full. All of the securities to be sold in the offering will be offered by the Company pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering is expected to close on or about June 13, 2025, subject to customary closing conditions. Hudson Pacific plans to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds to repay borrowings under its revolving credit facility, repay other indebtedness and/or for general corporate purposes. Pending these applications, the Company's operating partnership intends to invest the net proceeds from this offering in interest-bearing accounts and short-term, interest-bearing securities in a manner that is consistent with our intention to qualify for taxation as a real estate investment trust. The lead joint book-running managers for the offering are BofA Securities, Wells Fargo Securities and RBC Capital Markets, and KeyBanc Capital Markets, Morgan Stanley and Goldman Sachs & Co. LLC are serving as the joint book-running managers. A copy of the final prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: equityprospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 such state or other jurisdiction. About Hudson Pacific Properties Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC. View source version on Contacts Investor Contact Laura CampbellExecutive Vice President, Investor Relations & Marketing(310) 622-1702lcampbell@ Media Contact Laura MurrayVice President, Communications(310) 622-1781lmurray@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Hudson Pacific Properties Announces Pricing of $600 Million Public Offering
LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. ('Hudson Pacific' or the 'Company') (NYSE: HPP) today announced the pricing of an underwritten public offering of 197,194,698 shares of its common stock and pre-funded warrants to purchase 71,863,597 shares of its common stock. The shares of common stock are being sold at a public offering price of $2.23 per share and the pre-funded warrants are being sold at a public offering price of $2.22 per warrant, which represents the per share public offering price for the common stock, less the $0.01 per share exercise price for each such pre-funded warrant. The underwriters have been granted a 30-day option to purchase up to an additional 40,358,744 shares at the public offering price, less the underwriting discount. The Company estimates the offering will generate net proceeds, after deducting underwriting discounts (before other transaction costs and excluding the exercise of any pre-funded warrants), of approximately $575.6 million, or $662.0 million if the underwriters exercise their option to purchase additional shares in full. All of the securities to be sold in the offering will be offered by the Company pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission. The offering is expected to close on or about June 13, 2025, subject to customary closing conditions. Hudson Pacific plans to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds to repay borrowings under its revolving credit facility, repay other indebtedness and/or for general corporate purposes. Pending these applications, the Company's operating partnership intends to invest the net proceeds from this offering in interest-bearing accounts and short-term, interest-bearing securities in a manner that is consistent with our intention to qualify for taxation as a real estate investment trust. The lead joint book-running managers for the offering are BofA Securities, Wells Fargo Securities and RBC Capital Markets, and KeyBanc Capital Markets, Morgan Stanley and Goldman Sachs & Co. LLC are serving as the joint book-running managers. A copy of the final prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: equityprospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 such state or other jurisdiction. About Hudson Pacific Properties Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as 'may,' 'will,' 'should,' 'expects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' or 'potential' or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC.
Yahoo
3 days ago
- Business
- Yahoo
Hudson Pacific Properties Announces Commencement of Public Offering
LOS ANGELES, June 11, 2025--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. ("Hudson Pacific" or the "Company") (NYSE: HPP) today announced it has commenced a $600 million underwritten public offering of shares of its common stock and pre-funded warrants to purchase shares of its common stock pursuant to an effective registration statement filed with the Securities and Exchange Commission. The Company intends to grant the underwriters a 30-day option to purchase up to an additional $90 million of common stock at the public offering price, less the underwriting discounts and commissions. All of the securities to be sold in the offering will be offered by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. In addition, Cohen & Steers Capital Management, Inc. (the "Investor") on behalf of its clients' accounts, has indicated an interest in purchasing $300 million in the aggregate of shares of the Company's common stock at the public offering price and pre-funded warrants, exercisable for shares of the Company's common stock, in this offering. Because this indication of interest is not a binding agreement or commitment to purchase, the Investor may determine to purchase more, fewer or no shares of the Company's common stock or pre-funded warrants in this offering or the underwriters may determine to sell more, fewer or no shares of the Company's common stock or pre-funded warrants to the Investor. Hudson Pacific plans to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds to repay borrowings under its revolving credit facility, repay other indebtedness and/or for general corporate purposes. Pending these applications, the Company's operating partnership intends to invest the net proceeds from this offering in interest-bearing accounts and short-term, interest-bearing securities in a manner that is consistent with its intention to qualify for taxation as a real estate investment trust. The lead joint book-running managers for the offering are BofA Securities, Wells Fargo Securities and RBC Capital Markets. A copy of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: equityprospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 such state or other jurisdiction. About Hudson Pacific Properties Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC. View source version on Contacts Investor Contact Laura CampbellExecutive Vice President, Investor Relations & Marketing(310) 622-1702lcampbell@ Media Contact Laura MurrayVice President, Communications(310) 622-1781lmurray@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business
- Business Wire
Hudson Pacific Properties Announces Commencement of Public Offering
LOS ANGELES--(BUSINESS WIRE)-- Hudson Pacific Properties, Inc. ('Hudson Pacific' or the 'Company') (NYSE: HPP) today announced it has commenced a $600 million underwritten public offering of shares of its common stock and pre-funded warrants to purchase shares of its common stock pursuant to an effective registration statement filed with the Securities and Exchange Commission. The Company intends to grant the underwriters a 30-day option to purchase up to an additional $90 million of common stock at the public offering price, less the underwriting discounts and commissions. All of the securities to be sold in the offering will be offered by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. In addition, Cohen & Steers Capital Management, Inc. (the 'Investor') on behalf of its clients' accounts, has indicated an interest in purchasing $300 million in the aggregate of shares of the Company's common stock at the public offering price and pre-funded warrants, exercisable for shares of the Company's common stock, in this offering. Because this indication of interest is not a binding agreement or commitment to purchase, the Investor may determine to purchase more, fewer or no shares of the Company's common stock or pre-funded warrants in this offering or the underwriters may determine to sell more, fewer or no shares of the Company's common stock or pre-funded warrants to the Investor. Hudson Pacific plans to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds to repay borrowings under its revolving credit facility, repay other indebtedness and/or for general corporate purposes. Pending these applications, the Company's operating partnership intends to invest the net proceeds from this offering in interest-bearing accounts and short-term, interest-bearing securities in a manner that is consistent with its intention to qualify for taxation as a real estate investment trust. The lead joint book-running managers for the offering are BofA Securities, Wells Fargo Securities and RBC Capital Markets. A copy of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, or by email at Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@ or RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor, New York, NY 10281-8098; Attention: Equity Syndicate; Phone: 877-822-4089; Email: equityprospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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 such state or other jurisdiction. About Hudson Pacific Properties Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Forward-Looking Statements This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as 'may,' 'will,' 'should,' 'expects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' or 'potential' or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events, or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the section entitled 'Risk Factors' in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by the Company from time to time with the SEC.
Yahoo
28-03-2025
- Business
- Yahoo
Hudson Pacific's Valuation Discounts $475 Million Deal And Asset Sales, Analyst Upgrades Stock
BMO Capital Markets analyst John P. Kim upgraded Hudson Pacific Properties, Inc. (NYSE:HPP) on Friday from Market Perform to Outperform, raising the price forecast from $4 to $5. The analyst notes that Hudson Pacific Properties' shares have dropped due to disappointing earnings, mainly caused by weaker performance in their office and studio segments, which has led the market to speculate about potential insolvency. Despite these challenges, the company has been actively seeking ways to generate cash flow, including raising debt and selling assets, Kim writes. These efforts are aimed at easing their near-term debt obligations, which extend through 2026. Per Kim, the company's current valuation is lower due to a decline in earnings, which could continue because Hollywood production has taken longer than expected to resume, and the recovery of West Coast office spaces has also been slower than anticipated. Also Read: Meanwhile, the analyst highlights that the company's recent $475 million CMBS transaction has helped provide some relief and offers additional support for its valuation. These apart, Kim notes that Hudson Pacific plans to sell an additional $150 million worth of assets in 2025, potentially including properties like 625 Second, 10950 Washington, Fourth & Traction, and/or Hollywood Media. Furthermore, Hudson Pacific and Blackstone Inc. have decided to pause the development of the Sunset Waltham Cross Studios, a 91-acre media complex in the U.K., with the aim of reworking its entitlement for an alternative use that could exceed its $297.3 million value as of December 31, 2024. Price Action: HPP shares are trading flat at $3.01 at last check Friday. Read This Next:Image Via Shutterstock. Date Firm Action From To Jan 2022 Mizuho Downgrades Neutral Underperform Jan 2022 Keybanc Downgrades Overweight Sector Weight Jan 2022 Baird Downgrades Outperform Neutral View More Analyst Ratings for HPP View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? HUDSON PACIFIC PROPERTIES (HPP): Free Stock Analysis Report This article Hudson Pacific's Valuation Discounts $475 Million Deal And Asset Sales, Analyst Upgrades Stock originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
