ELS Announces Public Offering Stock Price
Equity LifeStyle Properties Inc. (ELS) today (Oct. 20) announced the public offering price of $60.70 per share for the 3,162,069 shares of the company’s common stock, par value $0.01 per share previously sold by a selling stockholder to Goldman, Sachs & Co. as the sole underwriter in an underwritten at-the-market public offering.
Subject to customary conditions, the offering is expected to close on Monday (Oct. 24), according to a news release..
The 3,162,069 shares of common stock sold in this offering includes 1,453,793 shares of common stock issued by the company to the selling stockholder upon the redemption by the selling stockholder of 1,453,793 shares of the company’s Series B Subordinated Non-Voting Cumulative Preferred Stock, par value $0.01 per share, which will occur prior to the closing of this offering.
The selling stockholder will receive all of the net proceeds from the sale of the Common Stock in this offering, and the Company will not receive any proceeds in this offering.
Goldman, Sachs & Co. served as the sole underwriter for the offering.