Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 41

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 3
Chunk 41
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 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 holder. 

The offering closed on June 13, 2025. The gross proceeds from the offering amounted to $689.3 million ($529.7 million from common stock and $159.6 million from pre-funded warrants). In connection with this offering, we paid underwriting fees of $27.4 million and other transaction costs of $5.0 million, resulting in net proceeds of $656.9 million. The proceeds from the offering were used to fully repay the outstanding amount under the unsecured revolving credit facility and for general corporate purposes. 

(c)    Purchases of Equity Securities by the Issuer and Affiliated Purchasers: None.

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The following table summarizes the repurchases of the Company equity securities during the second quarter of 2025:

PeriodTotal Number of Shares PurchasedAverage Price Paid Per ShareTotal Shares Purchased as Part of Publicly Announced Plans or Programs(1)Maximum That May Yet Be Purchased Under The Plans or Programs(2)April 1, 2025 - April 30, 2025— $— — $35,250,164 May 1, 2025 - May 31