Capital Offerings Profile

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Company NameWhitestone REIT
Offering TypeIPO
DescriptionCommon Shares
Currency of IssueUSD
Trading Symbol (Exchange)WSR (NYSE)
Announcement Date11/4/2009
Trade Date8/25/2010
Expected Completion8/31/2010
Settlement Date8/31/2010
Completion Date8/25/2010
Overallotment Expiration9/30/2010
Lock-up Expiration2/21/2011
Mandatory Redemption?No
Exchange for Existing Issue?No

Use of Proceeds
The net proceeds from this offering will be contributed to the company's operating partnership in exchange for OP units. The company's operating partnership intends to use the net proceeds from the offering to acquire commercial properties in the company's target markets, to acquire loans with the intent to acquire the underlying property through foreclosure or deed in lieu of foreclosure within a short period of time, to redevelop and re-tenant existing properties to create Whitestone-branded Community Centered Properties and general corporate purposes. Pending these uses, the company intends to invest the net offering proceeds in interest-bearing, short-term, marketable investment grade securities or money market accounts that are consistent with the company intention to qualify as a REIT.

Offer Price ($)12.00
Gross Amount Offered ($000)26,400
Amount Including Overallotment ($000)26,400
Shares Offered2,200,000
Total Shares Offered2,200,000

Overallotment Amount Available ($000)3,960
Overallotment Shares Available330,000

Underwriting Fees
Gross Spread ($)0.84
Gross Spread (%)7.00
Sales Concession ($)0.50

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  B. Riley Wealth Management, Inc.880,00010,560
  Ladenburg Thalmann & Co. Inc.440,0005,280
  Hilltop Securities Inc.330,0003,960
  J.J.B. Hilliard, W.L. Lyons, LLC330,0003,960
  Maxim Group LLC220,0002,640

Issuer's CounselBass, Berry & Sims PLC
Underwriter's CounselHunton Andrews Kurth LLP
Auditor(s)Pannell Kerr Forster of Texas, P.C.

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