Business & Finance
Business and Finance
Business and Finance
Tue, August 30, 2011
Mon, August 29, 2011 Hudson Pacific Properties, Inc. Announces Filing of Registration Statement
LOS ANGELES--([ BUSINESS WIRE ])--Hudson Pacific Properties, Inc. (the aCompanya) (NYSE: HPP) today announced the filing of a registration statement on Form S-3 with the Securities and Exchange Commission ("SEC") relating to the possible resale, from time to time, by the selling stockholders named therein of up to 10,351,508 shares of the Company's common stock, initially issued in private placements on June 29, 2010 and May 3, 2011, and up to 2,589,252 shares of the Company's common stock issuable in exchange for common units of partnership interest in Hudson Pacific Properties, L.P., the Company's operating partnership, upon any redemption by one or more of the limited partners pursuant to their contractual rights, and the possible resale from time to time of some or all of such shares of common stock by the selling stockholders named in the registration statement.
The registration statement was filed to satisfy the Company's obligations under a registration rights agreement, as amended, entered into in connection with the private placements on June 29, 2010 and May 3, 2011. The Company is registering the applicable shares of its common stock to provide the selling stockholders with freely tradable securities. The registration of the shares of the Company's common stock covered by the registration statement does not necessarily mean that any of the shares will be offered or sold by the selling stockholders. Nor does the registration of the shares of the Companya™s common stock covered by the registration statement necessarily mean that any of the holders of common units will redeem their common units, that upon any such redemption the Company will elect, in its sole and absolute discretion, to exchange some or all of the common units for common stock rather than cash, or that any shares of the Companya™s common stock received in exchange for common units will be offered or sold by the selling stockholders.
The registration statement has been filed with the SEC but is not yet effective. The securities registered under the registration statement may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. 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 securities 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 prospectus, when available, may be obtained from the Company at 11601 Wilshire Blvd., Suite 1600, Los Angeles, California 90025; Attention: General Counsel.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc.is a full-service, vertically integrated real estate company focused on owning, operating and acquiring high-quality office properties and state-of-the-art media and entertainment properties in select growth markets primarily in Northern and Southern California. The Company's strategic investment program targets high barrier-to-entry, in-fill locations with favorable, long-term supply-demand characteristics in select target markets including Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company's portfolio consists of approximately 4.0 million square feet. The Company intends to elect to be taxed and to operate in a manner that will allow it to qualify as a real estate investment trust, or REIT, for federal income tax purposes, commencing with the taxable year ended December 31, 2010. Hudson Pacific Properties, Inc. is a component of the Russell 2000® and the Russell 3000® indices.For additional information, visit[ www.hudsonpacificproperties.com ].
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as amay,a awill,a ashould,a aexpects,a aintends,a aplans,a aanticipates,a abelieves,a aestimates,a apredicts,a or apotentiala or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond the Company's control, that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Companya™s future results to differ materially from any forward-looking statements, see the section entitled aRisk Factorsa in the Companya™s final prospectus filed on April 27, 2011, and the Companya™s Annual Report on Form 10-K for the year ended December31, 2010 filed with the Securities and Exchange Commission on March 24, 2011, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
