Highwoods shares slip on $125M stock offering - Triangle Business Journal:

http://www.lz5az.com/2008/01/partnership-with-automattic-inc-owners-of-the-wordpressc/
million shares at $21.50 a A syndicate of three investmentbanks – , and are charged with selling the shares on behal of Highwoods. The underwriters have a 30-day optiom to buy as many as 915 million additionapl shares to coverany overallotments. Highwoods (NYSE: HIW) said it expects net proceedx from the stock offeringof $125.1 million. That projectioj does not factor in any possibleoverallotment sales. Highwoodds says it intends to use the money to repahy debt and for generalcorporate purposes. The announcemen of the offering came after the close ofmarketse Tuesday, with the pricing announced Wednesday morning before markets opened.
Investors then punished the stock, sendinhg it down more than 7 percent to closeat $21.66. As of Marcuh 31, 2009, Highwoods owned or had an interest in382 office, industrial and retail propertiex encompassing approximately 35.4 million square Highwoods also owned 580 acres of development