Macerich expands USD 500 million ATM equity program, adds Morgan Stanley and Scotia as agents

Macerich filed a new automatic shelf registration statement on Form S-3, replacing an expired prior shelf.

• Continued its at-the-market common stock program for up to $500 million; $211.5 million sold, leaving $288.5 million available.
• Amended its equity distribution agreement to add Morgan Stanley and Scotia Capital as additional sales agents.
• Also continued prospectus supplements covering potential issuances tied to MACWH units, OP units, and resale of shares from OP unit redemptions.
• Net proceeds from any ATM sales will be contributed to the operating partnership for OP units; proceeds targeted for debt repayment and general corporate purposes.