CHICAGO, May 7, 2023 /PRNewswire/ - General Growth Properties, Inc. (NYSE: GGP, the “Company”) today announced that certain funds affiliated with The Blackstone Group have agreed to sell their 23,431,803 shares of common stock, par value $0.01 per share, in an underwritten public offering.  The Company will not receive any proceeds from the sale of shares in the offering.

Citigroup will act as sole underwriter of the offering.  Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 800-831-9146 or email: [email protected]) .

The Company has filed a shelf registration statement (including a prospectus) and a preliminary prospectus supplement relating to this offering with the SEC.  Prospective investors should read the registration statement (including the base prospectus), the preliminary prospectus supplement and other documents the Company has filed and will file with the SEC that are incorporated by reference into the Registration Statement for more complete information about the Company and the offering, including the risks associated with the securities and the offering.  This press release does not constitute an offer to sell or the solicitation of any offer to buy securities of the Company, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.  The offering will be made only by means of a prospectus supplement and accompanying base prospectus.  Copies of the registration statement, the preliminary prospectus supplement and other documents that the Company has filed with the SEC that are incorporated by reference into the Registration Statement are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. 

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect management’s current views with respect to future events and financial performance. The forward-looking statements included in this release are made as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements, even if new information becomes available in the future.  Actual results may differ materially from those expected because of various risks and uncertainties, including, but not limited to the final terms of the offering and the final size of such offering, the global credit environment and the continuing impacts of the recent U.S. recession, other changes in general economic and real estate conditions, changes in the interest rate environment and the availability of financing, adverse changes in the retail industry, general development risks, and integration and other acquisition risks. Other risks and uncertainties are discussed in the company’s filings with the SEC including its most recent Annual Report on Form 10-K.

ABOUT GGP
General Growth Properties is a fully integrated, self-managed and self-administered real estate investment trust focused exclusively on owning, managing, leasing, and redeveloping high-quality regional malls throughout the United States and Brazil. GGP’s portfolio is comprised of 124 regional malls in the United States and 18 malls in Brazil comprising approximately 128 million square feet. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP. 

SOURCE General Growth Properties

RELATED LINKS
http://www.ggp.com