Macerich Announces Commencement of Public Offering of Common Stock
Rhea-AI Summary
Macerich (NYSE: MAC) began an underwritten public offering of 16,000,000 common shares, with an expected 30‑day option for underwriters to buy up to 2,400,000 more shares.
Macerich plans to use net proceeds to repay revolving credit facility borrowings tied to the Annapolis Mall acquisition and for general corporate purposes, including additional property acquisitions and Annapolis Mall leasing investments.
Positive
- Equity raise of 16,000,000 shares plus 2,400,000-share underwriter option
- Proceeds earmarked to repay borrowings on revolving credit facility
- Funds may support additional property acquisitions and Annapolis Mall investments
Negative
- Issuance of up to 18,400,000 new shares may dilute existing shareholders
- Use of proceeds includes broad general corporate purposes, reducing specificity for investors
News Market Reaction – MAC
In the May 12 session, MAC gained 2.77%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Nov 26 | Stock offering pricing | Positive | +3.0% | Priced upsized 20M-share equity offering to repay high-cost mortgage debt. |
| Nov 25 | Offering commencement | Positive | +3.0% | Announced 18M-share equity raise with greenshoe to retire mortgage loan. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent same-tag equity offerings were followed by positive price reactions of about 3%, suggesting prior capital raises tied to balance sheet actions were received constructively.
In prior equity offerings, Macerich announced large common stock issuances to refinance existing high-cost debt. On Nov 25–26, 2024, it launched and then priced an upsized common stock offering of up to 20 million shares at $19.75 per share, with proceeds aimed at repaying a $478 million 9.0% mortgage loan. Those events saw roughly +3% price reactions, framing today’s offering within a pattern of equity-funded balance sheet management.
Key Terms
underwritten public offering financial
revolving credit facility financial
lead bookrunner financial
preliminary prospectus supplement regulatory
prospectus regulatory
effective registration statement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SANTA MONICA, Calif., May 11, 2026 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC) (the “Company” or “Macerich”) announced today that it has commenced an underwritten public offering of 16,000,000 shares of common stock. The Company expects to grant the underwriters a 30-day option to purchase up to 2,400,000 additional shares of its common stock.
The Company intends to use the net proceeds of this offering to repay borrowings under the Company’s revolving credit facility, which were used primarily to fund the acquisition of Annapolis Mall, and for general corporate purposes, including to acquire additional properties and to fund strategic leasing capital investments at Annapolis Mall. Pending such use, the Company may invest the net proceeds in short-term, interest-bearing deposit accounts.
Goldman Sachs & Co. LLC is serving as the lead bookrunner and representative of the underwriters of the offering. Copies of the preliminary prospectus supplement and accompanying prospectus relating to these securities may be obtained, when available, by contacting: Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by email at Prospectus-ny@ny.email.gs.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any such offer or sale will be made only by means of the prospectus supplement and prospectus forming part of the effective registration statement relating to these securities.
About the Company
Macerich (NYSE: MAC) is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns approximately 41 million square feet of real estate, consisting primarily of interests in 39 retail centers.
Forward-Looking Information
Information set forth in this press release contains “forward-looking statements” (within the meaning of the federal securities laws, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended), which reflect the Company’s expectations regarding future events and plans, including, but not limited to, statements regarding the Company’s potential grant to the underwriters of an option to purchase additional shares of common stock and the Company’s anticipated use of net proceeds from the offering. Generally, the words “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “scheduled,” “predicts,” “may,” “will,” “should,” “could,” variations of such words and similar expressions identify forward-looking statements. The forward-looking statements are based on information currently available to us and involve a number of known and unknown assumptions, risks, uncertainties and other factors, which may be difficult to predict and beyond the control of the Company, which could cause actual results to differ materially from those contained in the forward-looking statements. These factors include the risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website at www.sec.gov. The Company disclaims any obligation to publicly update or revise any forward-looking statements contained in this press release whether as a result of changes in underlying assumptions or factors, new information, future events or otherwise, except as required by law.
INVESTOR CONTACT: Investor Relations, IR@macerich.com
