Jersey City-based Veris Residential Inc., the newly rebranded Mack-Cali Realty Corp., said Tuesday that it is establishing an at-the-market share offering program through which the company may issue and sell, from time to time, up to $200 million in shares of its common stock.
The company said it will use net proceeds from any sales of the shares under the ATM Program for general corporate purposes.
Shares may be offered and sold through sales agents, including J.P. Morgan Securities LLC, BofA Securities, BNY Mellon Capital Markets LLC, Capital One Securities, Comerica Securities, Goldman Sachs & Co. LLC, R. Seelaus & Co. LLC and Ramirez & Co. Inc., from time to time, in transactions that are deemed to be “at-the-market” offerings as defined in Rule 415(a)(4) of the Securities Act of 1933, as amended.
Sales may also be made by any other method permitted by law, including by means of ordinary brokers’ transactions on the New York Stock Exchange, on any other existing trading market for Veris Residential’s common stock, to or through a market maker at prices prevailing at the time of sale, or in privately negotiated transactions. Only one of the sales agents may sell shares on a particular day or specified period of days. The company is not obligated to sell, and none of the sales agents are obligated to buy or sell, any shares under the ATM Program.