other material
confidence high
sentiment neutral
materiality 0.35
Corporate Office Properties Trust establishes new $300M at-the-market equity program
COPT DEFENSE PROPERTIES
- Entered into Sales Agreements with Barclays, BofA, BTIG, Capital One, Citi, JPM, KeyBanc, Regions, TD, Wells Fargo to sell up to $300M of common shares.
- Previous $300M ATM program dated November 2018 had no shares sold and has been terminated.
- Also entered into Master Forward Confirmations for forward sale agreements with terms of 3 to 24 months.
- Agents receive commission up to 2.0% of gross sales price; net proceeds to fund development, reduce debt, finance acquisitions.
- Shares issued under shelf registration statement (No. 333-264198) filed April 8, 2022, with prospectus supplement dated May 16, 2022.