Capital Offerings Profile

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Company NameWhitestone REIT
Offering TypeFollow-On
DescriptionCommon Shares
ISINUS9660842041
Currency of IssueUSD
Trading Symbol (Exchange)WSR (NYSE)
 
Announcement Date4/19/2017
Trade Date4/20/2017
Settlement Date4/25/2017
Completion Date4/20/2017
Overallotment Expiration5/25/2017
Lock-up Expiration6/19/2017
Date Overallotment Exercised4/24/2017
Shelf Filing Date4/29/2015
 
144a?No
Mandatory Redemption?No
Convertible?Yes
Exchange for Existing Issue?No

Use of Proceeds
The company will contribute the net proceeds of this offering to their operating partnership in exchange for OP units. Their operating partnership intends to use the net proceeds from this offering initially to repay a portion of outstanding indebtedness under their unsecured revolving credit facility, which amounts will then become available for future borrowings, including to fund a portion of the purchase price of the pending acquisitions, or for general corporate purposes. Pending application of any portion of the net proceeds, their operating partnership may invest the net proceeds from this offering in interest-bearing accounts and short-term, interest-bearing securities in a manner that is consistent with their intention to maintain their qualification as a REIT.

Pricing
Offer Price ($)13.00
Gross Amount Offered ($000)91,000
Amount Including Overallotment ($000)104,241
Shares Offered7,000,000
Total Shares Offered8,018,500
Original Shelf Value ($000)204,260

Overallotments
Overallotment Amount Available ($000)13,650
Overallotment Shares Available1,050,000
Overallotment Amount Exercised ($000)13,241
Overallotment Shares Exercised1,018,500

Underwriting Fees
Gross Spread ($)0.52
Gross Spread (%)4.00

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  SunTrust Robinson Humphrey, Inc.2,975,00038,675
  BMO Capital Markets Corp.1,050,00013,650
  JMP Securities LLC875,00011,375
Co-Manager(s)
  B. Riley Wealth Management, Inc.700,0009,100
  J.J.B. Hilliard, W.L. Lyons, LLC350,0004,550
  Janney Montgomery Scott LLC350,0004,550
  Ladenburg Thalmann & Co. Inc.350,0004,550
  Maxim Group LLC350,0004,550

Professionals
Issuer's CounselMorrison & Foerster LLP
Underwriter's CounselHunton Andrews Kurth LLP
Auditor(s)Pannell Kerr Forster of Texas, P.C.

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