EastGroup Properties establishes $1 billion equity offering program

EastGroup Properties (NYSE: EGP) entered into a sales agency financing agreement dated December 5, 2025, with nine financial institutions to establish an at-the-market equity offering program with a maximum aggregate gross sales price of $1 billion.

The sales agents include Robert W. Baird & Co. Incorporated, BofA Securities, Inc., BTIG, LLC, Jefferies LLC, J.P. Morgan Securities LLC, Raymond James & Associates, Inc., Regions Securities LLC, Samuel A. Ramirez & Company, Inc., and TD Securities (USA) LLC.

Under the agreement, EastGroup may sell shares of its common stock through the sales agents acting as agents or principals, or through forward sale arrangements. The company terminated its previous at-the-market equity offering program upon entering the new agreement, with approximately $520.1 million remaining unsold under the prior program.

The agreement also allows EastGroup to enter into forward sale agreements with several institutions including Robert W. Baird & Co. Incorporated, Bank of America, N.A., Nomura Global Financial Products, Inc., Jefferies LLC, JPMorgan Chase Bank, National Association, Raymond James & Associates, Inc., Regions Securities LLC, and The Toronto-Dominion Bank.

In forward sale arrangements, the forward purchasers will borrow shares from third parties and sell them through agents, with the number of shares sold equal to those underlying each forward contract. The total aggregate sales price for all shares sold under the program cannot exceed $1 billion.

You May Also Be Interested In