Colonial Properties Trust announced today that it has filed a prospectus supplement under which it may from time to time sell up to $50 million aggregate offering price of its common shares through an “at-the-market” share offering program. Colonial Properties Trust trades on the “New York Stock Exchange” under the stock symbol “CLP”. For more information regarding Colonial Properties Trust, make sure to visit the most Exclusive and Leading in Depth newsletter website at: http://www.wallstreetgrand.com/.
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Colonial Properties Trust (NYSE: CLP), announced earlier today that it has filed a prospectus supplement under which it may from time to time sell up to $50 million aggregate offering price of its common shares through an “at-the-market” share offering program. The shares would be offered through BofA Merrill Lynch and Wells Fargo Securities as sales agents.
Sales, if any, would be made in negotiated transactions or transactions that are deemed to be “at-the-market” offerings, including sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. The company intends to use the proceeds from any sales to fund potential future asset acquisitions and for general corporate purposes. Pending such use, the company intends to use the net proceeds to temporarily pay down a portion of the outstanding balance under its unsecured revolving credit facility. Sales in the offering, if any, would be made pursuant to a prospectus supplement, dated March 4, 2010, to the company’s prospectus, dated April 10, 2009, filed as part of its effective shelf registration statement.
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