SAN DIEGO, July 12, 2016 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today
that it closed its underwritten public offering of 6,555,000 shares of common stock, including 855,000 common shares issued in
connection with the underwriters' exercise in full of their option to purchase additional shares. The net proceeds from the
offering, after deducting underwriting discounts and commissions and estimated offering expenses, were approximately $133.1
million.
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, KeyBanc Capital Markets, BofA Merrill Lynch and Wells Fargo Securities acted as joint book-running
managers; Baird, BTIG and Stifel acted as joint lead managers; Capital One Securities, Canaccord Genuity and Raymond James acted as
co-managers in connection with the public offering.
A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission.
This offering was made only by means of a prospectus supplement and accompanying prospectus. 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 Relations 858-255-4913 abulot@roireit.net
