Macerich Commences Public Offering Of 18M Shares Of Common Stock

The Company expects to grant the underwriters a 30-day option to purchase up to 2.70 million additional shares of its common stock.

The Company intends to use the net proceeds of this offering together with cash on hand, including from recent sales under the Company's "at the market" offering program, to repay the $478.0 million mortgage loan with a fixed effective interest rate of approximately 9.0% and which is secured by its Washington Square property.