XML 119 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Issuance of Common Stock
6 Months Ended
Jun. 30, 2013
Issuance of Common Stock  
Issuance of Common Stock

11.     Issuance of Common Stock

 

In March 2013, we issued 17,250,000 shares of common stock at a price of $45.90 per share, including 2,250,000 shares purchased by the underwriters upon the exercise of their overallotment option.  After underwriting discounts and other offering costs of $36.6 million, the net proceeds of $755.1 million were used to redeem our 5.375% notes in March 2013 and repay borrowings under our acquisition credit facility, which were used to fund property acquisitions, including our acquisition of ARCT.

 

In connection with our January 2013 acquisition of ARCT, as described in note 4, we issued a total of 45,573,144 shares of our common stock to ARCT shareholders and we received 208,709 shares of our common stock that were previously held by ARCT.  The closing price per share of our common stock on the date of the ARCT acquisition was $44.04.  The total value of the 45,573,144 common shares was approximately $2 billion.