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SAN DIEGO, July 06, 2016 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today that it plans to offer 5,700,000 shares of common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to an additional 855,000 shares.
The Company intends to use the net proceeds from the offering to reduce borrowings under the Company's $500.0 million unsecured revolving credit facility, which were incurred in part to fund property acquisitions, and for general corporate purposes.
Jefferies, J.P. Morgan and KeyBanc Capital Markets are acting as joint book-running managers for the offering.
The offering will be made pursuant to an effective shelf registration statement and preliminary prospectus supplement and accompanying prospectus filed with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any shares of common stock nor will there be any sale of such common stock in any jurisdiction in which such offer, solicitation or sale would be unlawful. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, toll free at (877) 821-7388, J.P. Morgan Securities LLC c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, toll free at (866) 803-9204 or KeyBanc Capital Markets Inc., Attention: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, toll free at (800) 859-1783.
ABOUT RETAIL OPPORTUNITY INVESTMENTS CORP.
Retail Opportunity Investments Corp. (NASDAQ:ROIC), is a fully-integrated, self-managed real estate investment trust (REIT) that specializes in the acquisition, ownership and management of grocery-anchored shopping centers located in densely-populated, metropolitan markets across the West Coast. As of March 31, 2016, ROIC owned 75 shopping centers encompassing approximately 8.8 million square feet. ROIC is the largest publicly-traded, grocery-anchored shopping center REIT focused exclusively on the West Coast. ROIC is a member of the S&P SmallCap 600 Index and has investment-grade corporate debt ratings from Moody's Investor Services and Standard & Poor's. Additional information is available at: www.roireit.net.
When used herein, the words "believes," "anticipates," "projects," "should," "estimates," "expects," “guidance” and similar expressions are intended to identify forward-looking statements with the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and in Section 21F of the Securities and Exchange Act of 1934, as amended. Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of ROIC to differ materially from future results expressed or implied by such forward-looking statements. Information regarding such risks and factors is described in ROIC's filings with the SEC, including its most recent Annual Report on Form 10-K, which is available at: www.roireit.net.
Contact:Ashley Bulot, Investor Relations858email@example.com
Source:Retail Opportunity Investments Corp.