The Macerich Company (NYSE: MAC) has priced an underwritten public offering of 14,000,000 shares of common stock at $23.90 per share, according to a press release issued June 15, 2026.

The shares are being offered through forward sale agreements with Goldman Sachs & Co. LLC, Deutsche Bank AG, London Branch, JPMorgan Chase Bank, National Association, and Morgan Stanley, or their affiliates. Under the agreements, the forward purchasers or their affiliates are expected to borrow and sell the 14,000,000 shares in the offering.

The company intends to physically settle the forward sale agreements on dates no later than June 16, 2027, at which point it would deliver the shares in exchange for cash proceeds per share equal to the applicable forward sale price at settlement, subject to certain adjustments.

Macerich will not initially receive proceeds from the sale. The company stated it intends to use net proceeds from the future settlement of the forward sale agreements to fund acquisition opportunities and for general corporate purposes.

The underwriters have been granted a 30-day option to purchase up to an additional 2,100,000 shares. If exercised, the company expects to enter into additional forward sale agreements with respect to those shares.

Goldman Sachs & Co. LLC is serving as lead bookrunner. Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, BMO Capital Markets, TD Securities, and Scotiabank are serving as joint bookrunning managers.

The offering is expected to close June 17, 2026, subject to customary closing conditions.