Cousins Properties (CUZ) announced that it has commenced an underwritten public offering of 9.5M shares of its common stock. The company intends to use the net proceeds of the offering to fund a portion of the purchase price of an office property in Downtown Austin. If this acquisition is not consummated, the net proceeds will be used for general corporate purposes, including the acquisition and development of office properties, other opportunistic investments and the repayment of debt. J.P. Morgan will serve as the sole book-running manager for the offering.
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