BUZZ-Curbline Properties slips on $308.5 mln share offering

SITE Centers Corp.
Goldman Sachs Group, Inc.
Curbline Properties Corp.

SITE Centers Corp.

SITC

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Goldman Sachs Group, Inc.

GS

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Curbline Properties Corp.

CURB

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** REIT Curbline Properties' CURB.N shares down 2.2% premarket at $30.59 after follow-on priced

** New York City-based owner of suburban convenience shopping centers late Mon announced 10 mln shares for $308.5 mln as part of forward sale

** Offering price is $38.50, which represents a 1.3% discount to stock's last close

** CURB entered into 18-month forward sale agreements with bookrunners Goldman Sachs, Morgan Stanley and Wells Fargo

** Upon settlement of agreements, it intends using net proceeds for general purposes, including property acquisitions, working capital and capex, and repaying debt

** Co has ~114 mln shares outstanding

** CURB in Feb priced $204 mln stock offering also on an 18-month forward sale basis

** At Mon close, stock up 35% YTD

** 6 of 9 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $31, per LSEG data