Resources Group Launches $200M Forward Equity Offering

Benzinga · 3d ago

The forward sellers below are offering $200,000,000 of shares of our common stock. We expect to enter into separate forward sale agreements with each of Wells Fargo Bank, National Association, Bank of America, N.A. and JPMorgan Chase Bank, National Association, New York Branch, which we refer to in such capacity as the "forward purchasers," with respect to $200,000,000 of shares of our common stock. In connection with these forward sale agreements, the forward purchasers or their respective affiliates, whom we refer to in such capacity as the "forward sellers," at our request, are borrowing from third parties and selling to the underwriters an aggregate of $200,000,000 of shares of our common stock that will be delivered in this offering. If in the good faith, commercially reasonable judgment of a forward purchaser, it or its affiliate is unable to borrow and deliver for sale on the anticipated closing date a number of shares of our common stock underlying the relevant forward sale agreement, or it or its affiliate would be unable to borrow, at a stock loan rate not greater than a specified rate, and deliver for sale on the anticipated closing date such number of shares of our common stock, or if certain other conditions to the forward seller's obligations have not been satisfied, then we will issue and sell directly to the underwriters a number of shares of our common stock equal to the number of shares that such forward seller does not borrow and deliver.