JBG SMITH Properties Announces Public Offering of Common Shares

JBG SMITH Properties (NYSE: JBGS) (the Company or JBG SMITH) today announced the commencement of an underwritten public offering of 9,000,000 common shares. The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,350,000 common shares at the public offering price, less the underwriting discount, solely to cover overallotments, if any.

The Company intends to use the net proceeds from the offering to fund development opportunities and for general corporate purposes, which may include paying down indebtedness.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on July 2, 2018. A prospectus supplement and accompanying prospectus relating to the offering will be filed with the Securities and Exchange Commission.

Morgan Stanley, BofA Merrill Lynch and Goldman Sachs & Co. LLC are serving as joint book-running managers for the offering. The offering of these securities will be made only by means of a prospectus supplement and accompanying prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; BofA Merrill Lynch, 200 North College Street, 3rd Floor, Charlotte, NC 28225-0001, Attn: Prospectus Department, or by emailing [email protected]; or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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About JBG SMITH

JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. Our mixed-use operating portfolio comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served.

Forward Looking Statements

Certain statements contained herein may constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Consequently, the future results of the Company may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as approximate, believes, expects, anticipates, estimates, intends, plans, would, may or similar expressions in this document. Many of the factors that will determine the outcome of these and our other forward-looking statements are beyond our ability to control or predict. These factors include, among others: adverse economic conditions in the Washington, DC metropolitan area, the timing of and costs associated with development and property improvements, financing commitments, and general competitive factors. For further discussion of factors that could materially affect the outcome of our forward-looking statements and other risks and uncertainties, see Risk Factors and the Cautionary Statement Concerning Forward-Looking Statements in the Companys Annual Report on Form 10-K for the year ended December 31, 2018 and other periodic reports the Company files with the Securities and Exchange Commission. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements after the date hereof.

Jaime Marcus
SVP, Investor Relations
(240) 333-3643
[email protected]