LOS ANGELES, CA - CB Richard Ellis Group, Inc. announced that it intends to sell shares of its Class A common stock, having an aggregate offering price of up to $300 million, from time to time, pursuant to an at-the-market offering program through BofA Merrill Lynch, as sales agent and/or principal. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include repayment of a portion of its outstanding indebtedness under its senior secured credit agreement.
The Company has filed a registration statement (including a prospectus) and a prospectus supplement with the Securities and Exchange Commission (the "SEC") for the offering of Class A common stock described in this communication. Before you invest, you should read the prospectus in that registration statement, the prospectus supplement relating to the at-the-market offering and other documents the Company has filed with the SEC for more complete information about it and the at-the-market offering program. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Company or the sales agent will arrange to send you the prospectus supplement (including the prospectus) if you request it by contacting BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn: Preliminary Prospectus Department or by email to Prospectus.Requests@ml.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Company's Class A common stock nor shall there be any sale of such common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.
Source: CB Richard Ellis