SAN FRANCISCO, April 7 /PRNewswire-FirstCall/ -- AMB Property
Corporation® (NYSE: AMB), a leading owner, operator and developer
of global industrial real estate, today announced the pricing of
its public offering of 15,800,000 shares of its common stock at a
price of $27.50 per share. The
company has granted the underwriters an option to purchase up to an
additional 2,370,000 shares to cover over-allotments, if any. The
company expects to receive net proceeds from the offering of
approximately $416.4 million after
deducting underwriting discounts and commissions and estimated
transaction expenses of approximately $18.1
million (or approximately $479.0
million if the underwriters exercise their over-allotment in
full). Morgan Stanley, J.P. Morgan and BofA Merrill Lynch are
acting as joint bookrunners for the offering. Subject to customary
conditions, the offering is expected to close on or about
April 12, 2010.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
common stock in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction.
A copy of the final prospectus supplement and prospectus
relating to these securities may be obtained, when available, by
contacting Morgan Stanley & Co. Incorporated, Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Phone: +1 866 718 1649
(toll free), email: prospectus@morganstanley.com; J.P. Morgan
Securities Inc., Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, NY 11717, Phone:
+1 866 803 9204; or BofA Merrill Lynch, Attention: Preliminary
Prospectus Department, 4 World Financial Center, New York, NY 10080, email:
prospectus.requests@ml.com.
AMB Property Corporation.® Local partner to global
trade.™
AMB Property Corporation® is a leading owner, operator and
developer of global industrial real estate, focused on major hub
and gateway distribution markets in the Americas, Europe and Asia. As of December
31, 2009, AMB owned, or had investments in, on a
consolidated basis or through unconsolidated joint ventures,
properties and development projects expected to total approximately
155.1 million square feet (14.4 million square meters) in 47
markets within 14 countries. AMB invests in properties located
predominantly in the infill submarkets of its targeted markets. The
company's portfolio comprises High Throughput Distribution®
facilities--industrial properties built for speed and located near
airports, seaports and ground transportation systems.
Some of the information included in this press release contains
forward-looking statements, such as statements related to the
offering and the issuance and sale of common stock (including the
expected timing of closing of the offering), and the availability
of a final prospectus supplement, which are made pursuant to the
safe-harbor provisions of Section 21E of the Securities Exchange
Act of 1934, as amended, and Section 27A of the Securities Act of
1933, as amended. Because these forward-looking statements involve
numerous risks and uncertainties, there are important factors that
could cause our actual results to differ materially from those in
the forward-looking statements, and you should not rely on the
forward-looking statements as predictions of future events. The
events or circumstances reflected in the forward-looking statements
might not occur. You can identify forward-looking statements by the
use of forward-looking terminology such as "believes," "expects,"
"may," "will," "should," "seeks," "approximately," "intends,"
"plans," "forecasting, " "pro forma," "estimates" or "anticipates"
or the negative of these words and phrases or similar words or
phrases. You can also identify forward-looking statements by
discussions of strategy, plans or intentions. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indicators of
whether, or the time at which, such performance or results will be
achieved. There is no assurance that the events or circumstances
reflected in forward-looking statements will occur or be achieved.
Forward-looking statements are necessarily dependent on
assumptions, data or methods that may be incorrect or imprecise and
we may not be able to realize them. We caution you not to place
undue reliance on forward-looking statements, which reflect our
analysis only and speak as of the date of this press release or as
of the dates indicated in the statements. All of our
forward-looking statements are qualified in their entirety by this
statement. We assume no obligation to update or supplement
forward-looking statements. The following factors, among others,
could cause actual results and future events to differ materially
from those set forth or contemplated in the forward-looking
statements contained in this press release: any material adverse
change in the financial or securities markets within or outside
the United States or in political,
financial or economic conditions within or outside the United States or any material outbreak or
material escalation of hostilities within or outside the United States or declaration by
the United States of a national
emergency or war or other material calamity or crisis within or
outside the United States,
including, without limitation, an act of terrorism, any suspension
or limitation of trading in securities generally or in any of the
securities of AMB by the SEC, by any exchange that lists such
securities or in any over-the-counter market, any declaration by
any governmental authority of a general banking moratorium, any
financial market fluctuations, actual or perceived changes in
general economic conditions, global trade or in the real estate
sector, inflation risks, an actual or perceived downturn in the
U.S., California or global
economy, and certain other matters discussed under the heading
"Risk Factors" and elsewhere in our annual report on Form 10-K for
the year ended December 31, 2009.
SOURCE AMB Property Corporation