EastGroup to acquire California property portfolio; to issue up to 1.9M shares at $190+

EASTGROUP PROPERTIES INC

Entered merger agreement to acquire an unrelated entity owning a California property portfolio; consideration includes up to ~1.9M shares at min $190/share and assumed debt.
Transaction expected to close in Q2 2022, subject to customary closing conditions.
Shares will be issued under Section 4(a)(2) exemption from registration; actual count determined pre-close.
Final share count and closing details to be disclosed in a subsequent Form 8-K.

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