Macerich prices $403 million stock offering at $21 per share

Macerich Company (NYSE: MAC) announced it has priced an underwritten public offering of 19.2 million shares of common stock at $21 per share, generating expected gross proceeds of approximately $403.2 million.

The real estate investment trust also granted underwriters a 30-day option to purchase up to 2.88 million additional shares. The offering represents an increase from the previously announced 16 million shares. The transaction is expected to close on May 13, 2026, subject to customary closing conditions.

The company plans to use net proceeds to repay borrowings under its revolving credit facility, which were used primarily to fund the acquisition of Annapolis Mall. Additional proceeds will support general corporate purposes, including acquiring additional properties and funding strategic leasing capital investments at Annapolis Mall.

Goldman Sachs & Co. LLC serves as lead bookrunner and representative of the underwriters. Deutsche Bank Securities, J.P. Morgan, Morgan Stanley, BMO Capital Markets, TD Securities and Scotiabank are joint bookrunning managers for the offering.

Macerich operates as a fully integrated real estate investment trust focused on retail properties in densely populated U.S. markets. The company's portfolio spans California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor, encompassing approximately 41 million square feet of real estate across 39 retail centers.

You May Also Be Interested In

• Sunstone Hotel Investors to sell Hyatt Regency San Francisco for $279M
• Boundless Bio agrees to merge with Serapha Bio in all-stock deal
• Skeena Resources shareholders reelect board, name new VP