Macerich closes ~$439M net equity offering to repay $478M Washington Square mortgage

MACERICH CO

Issued 23M shares plus fully exercised 3M over-allotment at $19.75 per share.
Net proceeds of ~$439M combined with $39M cash to repay $478M mortgage on Washington Square.
Underwriting agreement with Goldman Sachs & Co. LLC as lead underwriter.
Proceeds contributed to Macerich Partnership L.P. in exchange for economic equivalent securities.

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