Capital Offerings Profile

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Company NameFranklin Street Properties Corporation
Offering TypeFollow-On
DescriptionCommon stock, $0.0001 par value
ISINUS35471R1068
Currency of IssueUSD
Trading Symbol (Exchange)FSP (NYSE MKT)
 
Announcement Date8/10/2016
Trade Date8/11/2016
Settlement Date8/16/2016
Completion Date8/11/2016
Overallotment Expiration9/15/2016
Lock-up Expiration10/10/2016
Date Overallotment Exercised8/16/2016
Shelf Filing Date1/12/2015
 
144a?No
Mandatory Redemption?No
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company intends to use approximately $45.5 million of the net proceeds of this offering to repay the borrowings under its unsecured revolving credit facility in connection with the Midtown Atlanta Property acquisition and approximately $15 million to $20 million of the net proceeds of this offering to fund the redevelopment of 801 Marquette. The company intends to use any proceeds of this offering that are not used to repay the amounts borrowed to fund the Midtown Atlanta Property acquisition or to fund the redevelopment of 801 Marquette to repay amounts outstanding under its senior unsecured revolving credit facility and/or for general corporate purposes, including funding future acquisitions and investments.

Pricing
Offer Price ($)12.3500
Gross Amount Offered ($000)75,644
Amount Including Overallotment ($000)86,990
Shares Offered6,125,000
Total Shares Offered7,043,750

Overallotments
Overallotment Amount Available ($000)11,347
Overallotment Shares Available918,750
Overallotment Amount Exercised ($000)11,347
Overallotment Shares Exercised918,750

Underwriting Fees
Gross Spread ($)0.49
Gross Spread (%)4.00
Sales Concession ($)0.30

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  BMO Capital Markets Corp.2,021,25024,962
  Robert W. Baird & Co. Incorporated2,021,25024,962
  Stifel, Nicolaus & Company, Incorporated1,408,75017,398
Senior Co-manager(s)
  Wunderlich Securities, Inc.428,7505,295
Co-Manager(s)
  BTIG, LLC61,250756
  Capital One Securities, Inc.61,250756
  PNC Capital Markets LLC61,250756
  TD Securities (USA) LLC61,250756

Professionals
Issuer's CounselWilmer Cutler Pickering Hale and Dorr, LLP
Underwriter's CounselGoodwin Procter, LLP
Auditor(s)Ernst & Young LLP
Clearing House(s)Depository Trust Company

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