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May 27, 2009

PRESS RELEASE: Forest City Enterprises, Inc. Announces Underwriters' Exercise of Over-Allotment Option Related to Offering of Class A Common Shares

PR Newswire

CLEVELAND, May 26 /PRNewswire-FirstCall/ -- Forest City Enterprises, Inc. (NYSE: FCEA) (NYSE: FCEB) today announced that the underwriters have exercised, in full, their over-allotment option to purchase an additional 6.8 million shares in relation to the company's previously announced public offering of 45.5 million Class A common shares, priced at $6.60 per share.

Forest City expects to receive net proceeds from this offering of approximately $329.8 million, giving effect to the exercise of the over-allotment option. Forest City intends to use the net proceeds from the sale to reduce its outstanding borrowings under the Company's $750 million revolving credit facility.

The joint book-running managers for this offering are Merrill Lynch & Co., Goldman, Sachs & Co. and Morgan Stanley.

Copies of the final prospectus supplement relating to these securities may be obtained by contacting Merrill Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New York, NY 10080, telephone: 212-449-1000; Goldman, Sachs & Co., Attention: Prospectus Department, 85 Broad Street, New York, NY 10004, telephone: 212-902-1171 or 866-471-2526, fax: 212-902-9316, e-mail: prospectus-ny@ny.email.gs.com; or, Morgan Stanley & Co. Incorporated, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, e-mail: prospectus@morganstanley.com.

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TradingMarkets.com, Forest City Sells 6.8 Million Overallotment Shares

Posted by lumi at May 27, 2009 4:24 AM