Macerich (MAC) Files 12M Common Share Offering

The Macerich Company (NYSE: MAC) today announced that it intends to offer to sell, subject to market and other conditions, 12,000,000 shares of its common stock in an underwritten public offering. Macerich intends to grant the underwriters a 30-day option to purchase up to 1,800,000 additional shares to cover over-allotments, if any.

Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers and underwriters for the offering.

Macerich intends to use the net proceeds of the offering to repay a portion of the outstanding balance under its $1.5 billion revolving line of credit.