other material
confidence high
sentiment neutral
materiality 0.60
Highwoods Properties sets up $300M ATM equity program with forward and warrant options
HIGHWOODS PROPERTIES, INC.
- Entered equity distribution agreements for at-the-market sales of up to $300M of common stock.
- Agents include Wells Fargo, BofA, BTIG, Jefferies, J.P. Morgan, TD Securities, Truist.
- Forward sale agreements allow borrowing and selling shares; company expects physical settlement for net cash proceeds.
- Warrants may be sold to Jefferies with strike above VWAP; upfront premium received.
- Agent commissions capped at 1.5% of gross sales price; forward/warrant fees similarly capped.