International real estate investment and services firm, Kennedy-Wilson
Holdings, Inc. (NYSE: KW) (“Kennedy Wilson” or the “Company”) today
announced the pricing of its underwritten public offering of 7,500,000
shares of its common stock at a public offering price of $25.55 per
share. The offering is expected to close on March 27, 2015, subject to
customary closing conditions. Kennedy Wilson has also granted the
underwriter of the offering a 30-day option to purchase up to 1,125,000
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 to repay
the $150.3 million balance outstanding under its unsecured revolving
credit facility and the remainder for general corporate purposes,
including future acquisitions and co-investments. 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., Attention: Prospectus Group,
60 Wall Street, New York, New York 10005, 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 securities 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 a vertically integrated global real
estate investment and services company headquartered in Beverly Hills,
CA with 25 offices in the United States, the United Kingdom, Ireland,
Spain, Jersey and Japan. The Company, on its own or with partners,
invests opportunistically in a variety of real estate related
investments, including commercial, multifamily, loan purchases and
originations, residential and hotels. Kennedy Wilson offers a
comprehensive array of real estate services, including investment
management, property services, auction, conventional sales, brokerage
and research.
Copyright Business Wire 2015