Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 54

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part II, Item 2
Chunk 54
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ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)    Recent Sales of Unregistered Securities:

During the second quarter of 2025, our operating partnership issued partnership units in private placements in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, in the amounts and for the consideration set forth below: 

During the second quarter of 2025, we issued an aggregate of 208,178 shares of our common stock in connection with the vesting of restricted stock awards for no cash consideration, out of which 3,166 shares of common stock were forfeited to us in connection with tax withholding obligations. For each share of common stock issued by us in connection with such an award, our operating partnership issued a restricted common unit to us as provided in our operating partnership’s Agreement of Limited Partnership. During the second quarter of 2025, our operating partnership issued an aggregate of 205,012 units to us in connection with these transactions. 

All other issuances of unregistered equity securities of our operating partnership during the six months ended June 30, 2025 have previously been disclosed in filings with the SEC. For all issuances of units to us, our operating partnership relied on our status as a publicly traded NYSE-listed company with $8.1 billion in total consolidated assets and as our operating partnership’s majority owner and sole general partner as the basis for the exemption under Section 4(a)(2) of the Securities Act. 

(b)    Use of Proceeds from Registered Securities:

On April 2, 2025, our Registration Statement on Form S-3 (File No. 333-278965) for the sale of up to $1.0 billion of debt and equity securities was declared effective. On June 11, 2025, we entered into an underwriting agreement with BofA Securities, Inc., Wells Fargo Securities, LLC and RBC Capital Markets, LLC, as representatives of several underwriters, to sell in a public offering 237,553,442 shares of common stock and pre-funded warrants to purchase 71,863,597 shares of common stock at prices of $2.23 per share of common stock and $2.22 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.01 per share and can be exercised at any time on or after June 13, 2025 at the option of the