Alexandria Real Estate Offers More Stock

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Alexandria Real Estate Equities Inc. said late Monday that it will sell 2.5 million common shares in a follow-on public offering.


The offering, expected to close by the end of the week, will be at $94.75 a share and is expected to raise about $240 million, which will be used to pay down outstanding unsecured debt, the Pasadena-based real estate trust said.


Shares of Alexandria were down $2.50 a share in early trading to $94.49.