Alexandria Real Estate (ARE) to Offer 5M Shares

Alexandria Real Estate Equities, Inc. (NYSE: ARE) today announced that it is commencing an underwritten public offering of 5,000,000 shares of the Company's common stock, subject to market conditions, in connection with the forward sale agreements described below. The Company expects to grant the underwriters a 30-day option to purchase up to 750,000 additional shares.

J.P. Morgan, BofA Securities, Citigroup, Goldman Sachs & Co. LLC and RBC Capital Markets are acting as joint book-running managers for the offering.

The Company expects to enter into forward sale agreements with JPMorgan Chase Bank, N.A., Bank of America, N.A., Citibank, N.A., Goldman Sachs & Co. LLC and Royal Bank of Canada (the "forward purchasers") with respect to 5,000,000 shares of its common stock (and expects to enter into forward sale agreements with respect to an aggregate of 5,750,000 shares if the underwriters exercise their option to purchase additional shares in full). In connection with the forward sale agreements, the forward purchasers or their affiliates are expected to borrow and sell to the underwriters an aggregate of 5,000,000 shares of the common stock that will be delivered in this offering (or an aggregate of 5,750,000 shares if the underwriters exercise their option to purchase additional shares in full). Subject to its right to elect cash or net share settlement, which right is subject to certain conditions, the Company intends to deliver, upon physical settlement of such forward sale agreements on one or more dates specified by the Company occurring no later than July 5, 2022, an aggregate of 5,000,000 shares of its common stock (or an aggregate of 5,750,000 shares if the underwriters exercise their option to purchase additional shares in full) to the forward purchasers in exchange for cash proceeds per share equal to the applicable forward sale price, which will be the public offering price, less underwriting discounts and commissions, and will be subject to certain adjustments as provided in the forward sale agreements.

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