Office Properties Income Trust (OPI) announced that it may offer and sell common shares of up to $100 million from time to time. The sales will be conducted via or to Clear Street as agent or principal under an At-The-Market (ATM) equity program. This program provides OPI with a flexible mechanism to raise capital.
The ATM program allows OPI to issue new common shares into the market at prevailing prices. This method of capital raising can be less dilutive than a large, single equity offering, as shares are sold incrementally. The proceeds from any sales would be used for general corporate purposes, including debt reduction.
The ability to raise up to $100 million through equity sales could provide OPI with additional liquidity. This is particularly relevant given the company's ongoing efforts to manage its debt maturities and challenging office market conditions.
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