DOW JONES NEWSWIRES
Five firms ranging from property owners to a biotech company
unveiled share offerings after the market's close Wednesday,
sending their shares lower after-hours.
Warehouse giant Prologis Inc. (PLD) said it plans to offer 30
million shares to help repay debt, including borrowings under its
ProLogis European Properties bridge facility.
The company, formed through a merger with AMB Property Corp.,
has about 169.6 million shares outstanding, according to FactSet
research. Shares fell 3% to $33.25 after-hours.
Excel Trust Inc. (EXL) said it is offering 12.5 million shares
of its stock over the next 30 days to help fund the purchase of its
Promenade shopping center in Scottsdale, Ariz., among other
corporate purposes.
The retail-focused real estate investment trust has about 16.6
million shares outstanding. Shares were recently off 4.6% to $11.34
after-hours.
Another REIT, American Capital Agency Corp. (AGNC) disclosed
plans to offer 36 million shares to help acquire more agency
securities, as market conditions warrant, and for general corporate
purposes.
The company has about 128.8 million shares outstanding. Shares
were off 1.7% to $28.35 after-hours.
First PacTrust Bancorp Inc. (FPTB) began offering 1.6 million
shares of voting common stock to raise funds for general corporate
purposes.
The holding company of Pacific Trust Bank has about 9.7 million
shares outstanding. Shares dropped 8.1% to $14.96 after-hours.
Biotech firm GTx Inc. (GTXI) filed a shelf registration with the
Securities and Exchange Commission for an undetermined amount of
shares. The company said it plans to use proceeds from the offering
for clinical development and other research and development
activities.
GTx had about 51.7 million shares outstanding at the end of
March. The stock fell 5% to $4.97 after-hours.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909;
Andrew.FitzGerald@dowjones.com