Hudson Pacific Properties, Inc. (NYSE: HPP) has officially priced an underwritten public offering of 197.19 million shares of common stock and pre-funded warrants for an additional 71.86 million shares, with an overall public offering value of $600 million.
The common shares are priced at $2.23 each, while the pre-funded warrants are priced at $2.22 — reflecting a $0.01 exercise price per warrant. To accommodate potential investor interest, underwriters have also been granted a 30-day option to purchase up to 40.36 million additional shares at the offering price, excluding underwriting discounts.
Hudson Pacific expects the offering to yield net proceeds of approximately $575.6 million, and potentially up to $662 million if the over-allotment option is fully exercised. The offering is scheduled to close on or around June 13, 2025, pending customary conditions.
All proceeds from this capital raise will be contributed to the company’s operating partnership, which plans to repay borrowings on its revolving credit facility, settle other debts, and support general corporate purposes. Until deployment, the funds will be temporarily held in interest-bearing accounts, aligning with Hudson Pacific’s objective to retain its REIT status.
The joint book-running managers for the deal include BofA Securities, Wells Fargo Securities, and RBC Capital Markets. They are supported by KeyBanc Capital Markets, Morgan Stanley, and Goldman Sachs & Co. LLC.
Investors seeking access to the final prospectus supplement may contact the managers through designated communication channels listed in the official announcement.
This offering, made under an effective shelf registration with the SEC, reinforces Hudson Pacific’s commitment to long-term financial health and strategic growth. As a REIT focused on tech and media markets, Hudson Pacific continues to develop, manage, and transform workspaces in key global innovation hubs.
About Hudson Pacific Properties:
Hudson Pacific (NYSE: HPP) is a real estate investment trust (REIT) serving tech and media clients in growth-driven cities. Its end-to-end value creation strategy emphasizes premium, sustainable, and collaborative workspaces that appeal to modern tenants.
