Capital Offerings Profile

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Company NameWhitestone REIT
Offering TypeFollow-On
DescriptionCommon Shares
Currency of IssueUSD
Trading Symbol (Exchange)WSR (NYSE)
Announcement Date8/22/2012
Trade Date8/23/2012
Settlement Date8/28/2012
Completion Date8/23/2012
Overallotment Expiration9/27/2012
Lock-up Expiration10/22/2012
Date Overallotment Exercised8/28/2012
Shelf Filing Date7/13/2012
Mandatory Redemption?No
Exchange for Existing Issue?No

Use of Proceeds
The net proceeds from this offering will be used for general corporate purposes, which may include acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or re-tenanting of properties in the company's portfolio, working capital and other general purposes. To the extent the company uses the net proceeds from this offering to repay outstanding indebtedness under its credit facility, affiliates of certain lenders and/or agents under its credit facility may receive a proportionate share of the amount repaid under the credit facility with the net proceeds from this offering. Pending application of any portion of the net proceeds, the company may invest the net proceeds in interest-bearing accounts and short-term, interest-bearing securities or money market accounts as is consistent with its intention to maintain its qualification for taxation as a REIT.

Offer Price ($)12.80
Gross Amount Offered ($000)53,760
Amount Including Overallotment ($000)61,824
Shares Offered4,200,000
Total Shares Offered4,830,000
Original Shelf Value ($000)350,000

Overallotment Amount Available ($000)8,064
Overallotment Shares Available630,000
Overallotment Amount Exercised ($000)8,064
Overallotment Shares Exercised630,000

Underwriting Fees
Gross Spread ($)0.61
Gross Spread (%)4.75
Sales Concession ($)0.36

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Robert W. Baird & Co. Incorporated1,470,00018,816
  JMP Securities LLC682,5008,736
Non-book Lead Manager(s)
  Ladenburg Thalmann & Co. Inc.682,5008,736
  B. Riley Wealth Management, Inc.525,0006,720
  Maxim Group LLC420,0005,376
  Hilltop Securities Inc.210,0002,688
  J.J.B. Hilliard, W.L. Lyons, LLC210,0002,688

Issuer's CounselShefsky & Froelich
Underwriter's CounselHunton Andrews Kurth LLP
Auditor(s)Pannell Kerr Forster of Texas, P.C.
Clearing House(s)Depository Trust Company

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